On 4 August 2008, the Andhra Pradesh
cabinet approved a draft concession agreement with the Navabharat-Maytas
consortium for implementing the Hyderabad metro rail project.
The state cabinet also gave a go-ahead
for the extension of the project by about 4.77 km, taking the total stretch to
75.93 km covering three routes. The project cost, which was orginally estimated
at Rs.9,600 crore, has been revised to Rs 12,100 crore and will be developed
under PPP mode, on BOT basis.
The financial closure will take place
within six months of signing the agreement and the first phase of the project
will be completed by 2012. The concession agreement period will be 35 years
during which the successful bidder has promised to make payments to the
government to the tune of Rs.30.311 crore.
Also See:
Maytas emerges
lowest bidder for Hyderabad metro rail (24-Jul-08)
Related Links:
Project profile