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L&T gets extension to complete Hyderabad metro

hyderabad_metro

Hyderabad, July 5: The Telangana government extended till November 2018 to complete Hyderabad Metro Rail project by construction company Larsen & Toubro (L&T).

The project could not completed due to court cases. The total construction line is 71.16 km.

After detailed technical presentations by the concessionaire L&TMRHL (L&T Metro Rail Hyderabad Limited), and HMRL (Hyderabad Metro Rail Limited) and many discussions, the government agreed to give an extension of 17 months.

According to N.V.S. Reddy, Managing Director HMRL has been permitted to complete the entire project by November 2018 except other than the 5 km stretch in the Old City and 1 km stretch between Hitec city and Raidurg .

While agreeing for this time extension, the interests of the government have been protected, he said.

As per the concession agreement, the project should have been completed by July 4, 2017.

The largest metro project in the world in public-private partnership is for Rs 14,132.crore.

Both the components of the project are being financed through an equity of 30 percent and 70 percent by debt.

Wefornews Bureau

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