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The Final Touch: L&T Pumps Rs 2,500 Crore More in Hyderabad Metro’s Last Stage
Hyderabad Metro Project. (hmrgov/Twitter)
Larsen & Toubro (L&T) has expressed interest in investing an additional Rs 2,500 crore in the Hyderabad Metro project apart from the already invested Rs 13,000 crore. The project is being built under PPP (public-private partnership) model with total cost of Rs 14,132 crore. Government of Telangana is investing Rs 2,300 crore, an amount required for the acquisition of land, building necessary infrastructure etc.
The elevated metro project is 72 km long, out of which 45 km has been completed. Metro Rail News reported that by the second half of 2019, the HiTec City stretch and the Secunderabad-MGBS corridor will be completed. Apart from separating an equity of Rs 3,000 crore, L&T has acquired a debt of Rs 12,000 crore at ten per cent interest rate, amounting to Rs 1,200 crore annually.
Commenting on the financial feasibility of the project, he was quoted by Metro Rail News as saying, “Of the 250 metros in the world, only four metros — Singapore, Tokyo, Hongkong, and Taipei have been profitable. We will have to strive hard and ensure the success of the metro. With the commissioning of the 16 km stretch on Monday, the metro is looking at a ridership of over 2 lakh commuters per day.”
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