With the proposed Rs 13,600 crore refinancing package from the Indian Railway Finance Corporation (IRFC) yet to materialise, Hyderabad Metro Rail Limited (HMRL) has begun evaluating alternative financing options to support the Telangana government’s planned takeover of Metro Phase-I and ensure the project remains on track.
The decision was taken at an HMRL board meeting chaired by Chief Secretary Sanjay Jaju, where officials were instructed to prepare contingency funding plans in case the IRFC loan is further delayed.
According to a The New Indian Express report, the board also recommended appointing a financial consultant to syndicate the required funding from alternative lenders.
The loan is intended to replace the Metro’s existing high-cost debt while facilitating the transfer of Phase-I from L&T Metro Rail (Hyderabad) Limited (LTMRHL) to the Telangana government. Although an agreement involving IRFC, HMRL and LTMRHL was signed on 25 May, the funds have not yet been released.
Alongside discussions on financing, the board reviewed progress on the proposed 122.9-km Hyderabad Metro Phase-II network and directed officials to respond quickly to observations raised by the Ministry of Housing and Urban Affairs (MoHUA) to accelerate the approval process.
Improving passenger convenience also featured prominently during the meeting. Officials discussed developing a unified mobility application integrating Hyderabad Metro services with TGSRTC buses and, where feasible, ride-hailing platforms such as Uber, Ola and Rapido to provide seamless last-mile connectivity.
The board further considered introducing a common ticketing system between Hyderabad Metro and TGSRTC, enabling passengers to use a single ticket across both transport modes.
Officials have been asked to hold discussions with TGSRTC on the proposal while also examining the introduction of daily, weekly and monthly Metro travel passes.
