L&T Metro Rail grants Rs 1,800 cr contract to Hyundai Rotem
Hyderabad: L&T Metro Rail (Hyderabad) Tuesday said it has awarded Hyderabad Metro Rail Rolling Stock contract worth Rs 1,800 crore to Korea-based Hyundai Rotem Company.
The Letter of Award (LOA) was signed and exchanged by V B Gadgil, Chief Executive and Managing Director, LTMRHL and Hyung-Wook Kim, Director - Rail Business, Asia, CIS and Oceania, Hyundai Rotem, a press release from LTMRHL said.
Hyundai Rotem is a proven rolling stock supplier and has the prior experience of supplying rolling stock to Indian metros and has globally supplied rolling stock to Japan, Greece, Hong Kong, Philippines, Taiwan, Turkey and Korea, the release said.
Gadgil said it is an important day for the Hyderabad Metro Rail Project and for LTMRHL as the much awaited rolling stock order has been awarded to Hyundai Rotem after examining various rolling stock manufactures, operating in metros in India and abroad.
"Our goal is to develop and provide an integrated multi modal mass transit system for the city of Hyderabad. We are sure; this goal can be achieved by engaging all the stakeholders and striving for the best safety and quality standards maintaining the Hallmark of L &T group," he said.
For the Hyderabad Metro Rail Project, a total of 171 cars (57 trains) have been ordered for a total value of Rs 1,800 crore approximately.
Hyundai Rotem's proposal was compliant and met the project requirements. The entire contract is denominated in Indian Rupees, thus eliminating forex risk, it added.
The rolling stock will be delivered nine months prior to the commissioning of each stage as per the construction schedule.