Hyderabad metro: L&T cites cost overruns, seeks Rs 16k-cr aid from TRS

Hyderabad metro

The first phase comprises 30 km and 24 stations


LATEST NEWS  : Larsen&Toubro has sought "additional financial support" from Telangana to cover cost overruns in the Rs 16,000-crore metro rail project that stemmed from delays in its implementation, sources privy to the development said.

Prime Minister Narendra Modi is scheduled to inaugurate the first phase of the 72-km project tomorrow, touted to be the world's largest such project on public-private partnership in the sector.


L&T Metro Rail (Hyderabad) Ltd, the developer of the project, has sought "additional financial support" from the Telangana government to cover the cost overruns due to delays in projects, leading to an extension of time, the sources said.

The cost overruns work out to over Rs 3,000 crore, the sources added.

"The company is also learnt to have sought an extension period of two years," an industry source said, adding that any decision is likely after consultation with the Centre as the urban development ministry is also part of the project.

The project, which was originally slated to go on stream in July this year, was extended till November 2018 and Telangana minister K T Rama Rao recently confirmed it.

Conceived in 2009, the 72-km project has overcome many hurdles such as default by first concessionaire Maytas Infra-led consortium and now, the present developer and subsequent developments, crucial land acquisition by the state government and logjam for some time over route alignment, among others.
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