Hyderabad News.L&T to build Rs 12,132 Crore Hyderabad Metro
Hyderabad News. ET 15.07.2010
(Excl Ventures News.)Larsen & Toubro (L&T) will execute the Rs 12,132-crore Hyderabad metro rail project after it emerged the lowest bidder, outbidding consortiums led by Reliance and Lanco Infratech. L&T will meet the financial closure in another six months and is expected to complete the project four years after that.
State government officials said the company had offered the lowest viability-gap funding of Rs 1,458 crore —roughly 12% of the project cost — against the Reliance-led consortium’s viability-gap funding of Rs 2,991 crore, which is 25% of the project cost.
The state and central government will be providing up to 40% of the viability-gap funding (Rs 4,850 crore), while L&T will raise 30% of the project cost through equity and the rest through debt.
“This is the largest project that the company has bagged and going forward we may look at joining hands with other partners for technical issues,” said an official from L& T.
Comment :
At last some great news on Hyderabad Metro. With L&T winning the bid, we can now rest assure that the project will be built and also be delivered probably ahead of schedule.
Keyword Tags Hyderabad News,Metro, Hyderabad Metro, L&T, Metro Project
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