The Hyderabad Metro Rail entered into an agreement with Indian Railaway Finance Corporation (IRFC) for re-financing of Rs 13,600 crore loan, which would provide financial cushioning to the company on a long-term.
In Delhi, IRFC CMD Manojkumar Dubey and CS K. Ramakrishna signed on the related documents to this effect. With a 20-year time limit and payment scheduled for every trimester, the loan would be extended to Hyderabad Metro.
Speaking on the occasion, CS Ramakrishna said that 100 per cent stake of RIL had been transferred to the government. He said that the government was committed to the improve the public transport system in the state. Hyderabad is growing as the key growth engine in the country. If the Metro connectivity improves, there would be less traffic and passengers can enjoy more facilities, he said.
He thanked the Centre, IRFC, L&T, HMRL teams for assisting in loan refinancing. The government is dedicated to install an efficient and stable public transport system in Hyderabad, he added.
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