The metro rail project will be completed under public private partnership (PPP) mode. The Agreement was signed by Urban Development Principal Secretary Mr TS Appa Rao and the Managing Director of the newly formed L&T Hyderabad Metro Rail Pvt Ltd Mr VB Gadgil.
To meet the bid requirements, L&T has formed the special purpose vehicle company, L&T Hyderabad Metro Rail Pvt Ltd, for developing the project on design, build, finance, operate and transfer (dbfot) basis.
Andra Pradesh Chief Minister K Rosaiah presided the function and Municipal Administration Minister Anam Rama Narayana Reddy, ministers like D Nagender, Mukesh Gouda, Sabita Indra Reddy, Chief Secretary SV Prasad and Chairman of L&T Financial Services YM Deovasthalee were also attended.
CM K Rosaiah told that Hyderabad Metro Rail project is one of the world"s largest metro rail projects and in fact the largest one in PPP mode. He also thanked Prime Minister Manmohan Singh and UPA Chairperson Sonia Gandhi for sanctioning such a large project to solve the traffic problems of Hyderabad city.
The total cost of the 71 km metro rail project is 12,132 crore and will generate employment for about 5000 engineers and about 45000 skilled and unskilled
workers. The project will cover three high density traffic corridors of Hyderabad, Miyapur-LB Nagar, JBS-Falaknuma and Nagole-Shilparamam.