October 08, 2008

FM to provide funds for Hyderabad metro project

Union finance ministry has agreed in principle to provide funds worth about INR 2,000 crore for the Hyderabad metro rail project estimated to cost over INR 10,000 crore, under the public private partnership.

The funds could now be released to the state government in a phased manner to implement the project. Four bidders, including a consortium of Reliance Energy and Canada based Bombardier, have been pre qualified for the project and technical bids have been invited.

Hyderabad Metro Rail Project, to be implemented on the pattern of Delhi Metro, involves development of 3 elevated corridor of total length of 67 kilometers with real estate rights along the corridor.