Hyderabad, May 1 -- The Telangana government on Thursday regained complete control of the Hyderabad metro rail project, taking it over from its original concessionaire Larsen and Toubro (L&T), officials said.

According to an official statement, the state government signed a share purchase agreement with L&T and its subsidiary L&T Metro Rail (Hyderabad) Limited (LTMRHL) on Wednesday for the acquisition of 100% equity shares of LTMRHL at an equity value of Rs.1,461.47 crores.

The agreement was signed by Hyderabad Metro Rail Ltd (HMRL) managing director Sarfaraz Ahmad, L&T advisor (development projects) D K Sen and LTMRHL managing director K V B Reddy.

In a separate statement on Thursday, L&T said it had signed an agreement with the state...