The Central government has approved financial assistance of Rs.1,639 crore for the Hyderabad Metro Rail project towards 20 per cent of the total project cost of Rs.8,482 crore under the viability gap funding (VGF) scheme.

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 project has already secured clearance from the Central government, with technical bids being invited by 7 May 2007 from the five international consortia - Essar Constructions, Magna Allmore, Reliance Energy (Anil Ambani group), GVK and Navbharat, which were pre-qualified for the proposed project.

The technical bids will be evaluated with the help of two consultants - Span Semaly of France and Delhi Metro Rail Corporation. Financial bids will be invited from qualified bidders and one consortium seeking the least financial help from VGF will be given the entire project of elevated metro rail across the three routes.

Also See:

SPV formed for Hyderabad Metro Rail (13-Apr-07)

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