Hyderabad News.Center approves Hyderabad Metro Tender Process
Hyderabad News. DC 04.07.2010
(Excl Ventures News.)Decks have finally been cleared for the Hyderabad metro rail project with the Centre approving the tender process. The metro rail authorities had to put off the filing of the financial bids on June 7 as the scrutiny of the updated bid documents by the Centre could not be completed.
The Union minister for urban development, Mr S. Jaipal Reddy, on Thursday announced that the metro rail in the city would soon become a reality with the Centre clearing the tender process. The Chief Minister, Mr K. Rosaiah, thanked the Centre for the gesture.
With the Centre’s approval, the metro rail developer will get a Viability Gap Funding (VGF) of Rs 2,363 crore from the Centre. The state will have to bear the additional VGF if the developer asks for over and above the Central VGF. Sources said all the three agencies — the Union ministry of urban development, Planning Commission and the ministry of finance —have accepted the updated bid documents and a joint meeting of the three agencies would be called in next few days to give a formal approval.
The metro authorities have been planning to proceed with the July 14 deadline for filing of the financial bids.
Comment : Can we hope to see Metro in Hyderabad by 2015? Keyword Tags Hyderabad News,Hyderabad Metro, Hyderabad Metro Rail Limited, HMRL
Rate News on a Scale of 5. 5th Star Correspond to 5.
