The Cabinet on Wednesday sanctioned Rs.500 crore to the Hyderabad Metro Rail project for pre-construction work in the current financial year in a follow-up of its earlier decision to award Rs.12,132 crore to M/s Larsen and Toubro.This sum would be the first installment of Rs.1,980 crore proposed to be spent by State over the next five years towards acquisition of 204 acres of private land, shifting of utilities, relief and rehabilitation cost, compensation for affected properties and improvement of alternate roads for traffic flow during construction period. The project would be executed on design, build, operate, finance and transfer basis in public private partnership mode. Briefing reporters after the Cabinet meeting, Minister for Information & Public Relations J. Geetha Reddy said L&T had emerged as the lowest bidder in the global tenders by seeking a viability gap funding of Rs.1,458 crore and it would be entirely paid by the Central government.

Published Date : Thursday, Aug 5, 11:21am IST

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