L&T publicizes stake sale in Hyderabad Metro Rail

Hyderabad Metro Rail mission concessionaire Larsen & Toubro (L&T) has introduced plans to divest its stake within the mission together with a few of its non-core belongings. L&T Complete Time Director and Senior Government Vice President (Improvement Tasks) DK Sen mentioned this in a press release.

Nonetheless, it isn’t clear whether or not L&T will promote all or a part of its stake within the mission. The corporate didn’t even trace on any timeline for this sale. “We are going to work on the method of disinvestment of all these belongings over time,” the assertion mentioned. L&T has been battling this mission since its inception.

The estimated value of the mission is Rs 16,571 crore, which has elevated to Rs 18,971 crore because of varied causes. Of this, Rs 13,500 crore was raised via L&T loans. Furthermore, COVID-19 has dealt a significant blow to the mission with companies suspended for a number of months and an enormous discount in ridership even after resumption.

L&T High Brass has approached Authorities of Telangana for some monetary help however has not acquired any response. The federal government is dedicated to offering solely tender loans, which didn’t excite L&T a lot.

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