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FinMin to part-fund Hyderabad Metro project
Posted by Srini Uppala | May 11, 2008 | 274 views
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Loading ...The finance ministry has agreed in principle to provide funds worth about Rs 2,000 crore for the Hyderabad Metro Rail Project estimated to cost over Rs 10,000 crore under the public-private partnership.
Four bidders, including a consortium of Reliance Energy Ltd and Canada-based Bombardier, have been pre-qualified for the project and technical bids have been invited.
“The Hyderabad Mass Rapid Transit System (MRTS) has been recommended by the Empowered Committee and Empowered Institution for viability gap funding (VGF), though final approval will require the consent of Finance Minister P Chidambaram as well,” said finance ministry sources.
Once approved by the finance minister, the funds could be released to the state government in a phased manner to implement the project, sources said.
Hyderabad Metro Rail Project, to be implemented on the pattern of Delhi Metro, involves development of three elevated corridor of total length of 67 km.
SOURCES:
Business Standard
Topics: Govt In Action, Infrastructure |
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