The Hindu Business Line : Centre sanctions Rs 1,639 crore for Hyderabad Metro Rail

Hyderabad May 3 The Central Government has approved the Rs 8,482-crore Hyderabad Metro Rail Project for a viability gap funding of Rs 1,639 crore, about 20 per cent of the total project cost.

With 60 per cent of the project cost being raised by private BOT (build, operate and transfer) developer, the remaining grant of 20 per cent would be contributed by the State Government.

The Managing Director of the Hyderabad Metro project, Mr N.V.S. Reddy, in a statement said that with the project securing clearance from the Central Government, technical bids would be invited in the next few days from the five international consortia, which were pre-qualified for building the metro rail system in Hyderabad.

The technical bids would be evaluated with the help of two consultants - Span Semaly of France and Delhi Metro Rail Corporation. The project seeks to decongest three most dense traffic corridors in the Hyderabad metro by developing a 66 km metro network.

Essar Constructions, Magna Allmore, Reliance Energy (Anil Ambani group), GVK and Navbharat are in fray with their consortium partners having pre-qualified.

As per plans, financial bids would be invited from those bidders who get qualified and the project entrusted to the consortium that seeks the least financial support from the Government in the form of VGF.

All the three routes of 66 km would be offered as a single package to only one developer. The project has to be completed in five years and handed over to the Government after managing it for 30 years, which has been decided as the concession period.

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