Hyderabad:
In separate letters addressed to Union Minister for Housing and Urban Affairs Manohar Lal Khattar and Union Minister for Coal and Mines G. Kishan Reddy, the Chief Minister sought their personal intervention to fast-track the implementation of key decisions taken jointly by the Centre and the State.
Referring to the high-level meetings held with the Union ministers on June 23 and 24, 2026, Revanth Reddy recalled that both governments had agreed to appoint SBICAPS, the Central government’s designated financial advisory agency, to conduct a comprehensive assessment of the Hyderabad Metro Rail project.
According to the proposal, SBICAPS will determine the valuation of Metro Phase-I assets, prepare a refinancing strategy for existing high-interest loans, and evaluate long-term funding options for the proposed Phase-II expansion.
However, the Chief Minister expressed concern that the Ministry of Housing and Urban Affairs is yet to finalise the Terms of Reference (ToR) and formally entrust the assignment to SBICAPS. He said the delay has stalled critical financial and administrative processes, creating uncertainty over the future management of Metro Phase-I.
Revanth Reddy also pointed out that the pending appointment of SBICAPS has slowed the approval of the Detailed Project Reports (DPRs) for Metro Phase-II and delayed efforts to mobilise financial resources for the expansion.
Warning that continued inaction could lead to significant cost escalation and further postpone the project, the Chief Minister described the Metro Phase-II expansion as vital to meeting Hyderabad’s rapidly growing urban transport requirements.
He appealed to both Union ministers to ensure the immediate appointment of SBICAPS so that the agreed roadmap can be implemented without delay. The Chief Minister expressed confidence that timely intervention by the Centre would facilitate the smooth transfer of Metro Phase-I to the State government and pave the way for the early execution of the Metro Phase-II expansion project.