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NIIFL to pump Rs 4,000 crore in Hyderabad Metro Rail
NIIFL to pump Rs 4,000 crore in Hyderabad Metro Rail
Highlights
Metro Rail is incurring losses up to Rs 5 crore a day, according to reports
Hyderabad: Good news for the Hyderabad Metro Rail (HMR), which is facing losses. The National Investment and Infrastructure Fund Ltd (NIIFL) has come forward to invest in the HMR.
The company reportedly offered to invest about Rs 4,000 crore to boost its functioning and tide over financial crisis.
The HMR is incurring losses up to Rs 5 crore a day according to reports.
Its officials have been trying to get soft loans from banks for quite some time.
Amid corona pandemic, the HMR suffered a huge loss and sought some soft loans. The NIIFL's offered help to the HMR to tide over the financial crisis.
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