 "Larsen & Toubro")
With uncertainty still looming over resumption of Metro rail services, L&T Metro Rail (Hyderabad) Limited may invoke force majeure clause with the Telangana government seeking extension of the concession period equivalent to the time it could not operate due to the lockdown, the company said in its latest annual report.
The concession period of the project is 35 years, from the appointed date of July 5, 2012 including the initial construction period of five years.
This is extendable for a further period of 25 years, subject to fulfilment of certain conditions by the SPV (special purpose vehicle) as set out
