Bids for Hyderabad Metro to be accepted till April 21

Last Updated: Saturday, April 10, 2010 - 21:45

Hyderabad: Bids for Hyderabad Metro Rail
(HMRL) will be accepted until April 21 and the consortium will
be selected by the end of the month, a top official of the
HMRL said here.

"We don’t anticipate any problem in executing the
project and it will happen as scheduled. The clarifications
sought from two bidders have been received. So all the 8
consortia will take part in the process," said N.V.S. Reddy,
Managing Director, HMRL, adding the new developer will begin
work on the project by the end of the year.

The government had to call for fresh bids after
scrapping the agreement signed with the previous consortia
led by Maytas Infra following its failure to achieve financial
closure in time.

Maytas Infra-led consortium, which won the bid
earlier in 2008, could not complete the financial closure
after Satyam Computers sank in troubles. Maytas was promoted
by the sons of Ramalinga Raju.

The 71-km-long metro rail,the longest in the country
could cost about Rs 12,000 crore.

According to Reddy, the developer will be able to earn
80 per cent of revenues through passenger traffic. The
remaining 20 per cent can be generated by renting out the 18.5
million sq ft real estate space alongside.


First Published: Saturday, April 10, 2010 - 21:45

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