L&T HMRL seeks state govt support to overcome losses

Hyderabad: L&T Hyderabad Metro Rail Limited may invoke force majeure clause (superior force) in the concessionaire agreement with Telangana government, seeking extension of the concession period and compensation for the losses suffered during the pandemic first and second waves.

Hyderabad Metro Rail did not operate train services for several months.

Larsen & Toubro CEO and MD, SN Subrahmanyan, and L&THMRL CEO, KVB Reddy, met CM K Chandrasekhar Rao on Friday and sought support in view of the losses. A force majeure clause provides temporary reprieve to a party from performing its obligations under a contract.

The operator said it suffered losses to tune of Rs 916 crore in first six months of 2020.


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