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L&T to divest from Hyderabad Metro; GMR to fund project expansion, India [free access]

September 1, 2021

India-based L&T has announced plans to divest its stake in Hyderabad Metro, the world’s largest metro project to be executed on the public-private partnership (PPP) mode. The timeline is yet to be announced.  The Hyderabad Metro network consists of three lines which together span around 69 km. It is the second-largest metro network in India.

 

In addition, India-based GMR Group has announced plans to invest INR5 billion by 2024 to develop a metro line, which will connect with GMR Hyderabad International Airport Limited. The project involves an investment of INR50 billion. It will be executed and operated and maintained (O&M) by GMR Hyderabad International Airport. The metro line will span around 31 km.

 

(1 INR [Indian Rupee] = 0.01 USD)