Hyderabad, May 25 -- In a major development, the government-run Hyderabad Metro Rail Limited (HMRL) secured a working capital refinancing worth Rs 13,600 crore from the Indian Railway Finance Corporation Limited (IRFC).

The loan agreement was signed by the IRFC, Larsen & Toubro Metro Rail (L&T Hyderabad), and HMRL in Delhi on Monday, May 25. Structured as a 20-year loan with quarterly repayments, it will help replace high-interest debt with lower-cost, long-term rupee-denominated financing.

Telangana Chief Secretary K Ramakrishna Rao, who attended the ceremony, said that in addition to reducing the current debt burden, this would also facilitate future metro expansion plans.

The massive Rs 13,600 crore amount will be utilised to refina...