Hyderabad:
The Hyderabad Metro Rail Project, which faced a series of hurdles, has been finally flagged off and the first phase is likely to be completed in about three years.
The project is one of the world's largest Public Private Partnership (PPP) projects in the Metro Sector. It involves construction of 71.16 kms of elevated metro rail in three corridors, with 65 stations, criss-crossing the capital of Andhra Pradesh.
"We are supposed to complete the project in five years. But presently we are thinking of commissioning it phase by phase. It is not as per the requirement of the concession agreement. But we are trying to do that basically to advance the completion of the project," said V B Gadgil, Chief Executive and Managing Director, Larsen and Toubro (L&T) Metro Rail (Hyderabad).
"Our endeavour will be to complete the first phase, which we have taken up between Nagole and Mettuguda, in about three to three-and-half years time. After about six to eight months' time, we will be able to tell you precisely when we are going to do this," he told reporters today. He also said the entire project would be completed by 2017.
The Hyderabad Metro Rail project was first awarded to another infrastructure firm but the agreement had to be scrapped in 2009. It subsequently witnessed some protests over alleged demolition of some heritage buildings.
The financial closure for the project was done in March, 2011 and the Concession Agreement was signed by SPV (Special Purpose Vehicle), L&T Metro Rail (Hyderabad) Limited, with the Government of Andhra Pradesh on September 4, 2010.