Telangana looks to GIFT City to fund Hyderabad Metro buyout after IRFC setback

A Hyderabad Metro train passes over Parade Ground metro station against a twilight sky in Secunderabad. | Photo Credit: RAMAKRISHNA G. The Telangana government, which has engaged SBI Capital Markets (SBI Caps) to secure a soft loan of around ₹13,500 crore for acquiring the 69.2-km Phase I of Hyderabad Metro Rail (HMR) from L&T, is reportedly exploring funding options through Gujarat’s GIFT City.Senior officials, speaking on condition of anonymity, said SBI Caps has been asked to quickly identify an alternative funding partner after the proposed loan of ₹13,527 crore from the Indian Railway Finance Corporation (IRFC) was halted at the last minute in May. The move reportedly followed intervention from the Ministry of Railways, which maintained that IRFC’s mandate is limited to financing new