AP govt signs agreement for Hyderabad Metro Rail
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.
OneIndia News