Maytas Infra Ltd bags Rs12000 crore Hyderabad metro contract

Maytas Infra Ltd bags Rs12000 crore Hyderabad metro contract
PTI
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First Published: Tue, Aug 12 2008. 07 57 AM IST
Updated: Sun, Aug 31 2008. 01 10 PM IST
Hyderabad: The Andhra Pradesh government today awarded the contract to build Rs12,000-crore metro rail project to a consortium led by construction major Maytas Infra ltd.
The 71 km-long metro project would be carried out by the consortium comprising Navabharat Ventures ltd, Maytas Infra ltd, Ital Thai Development Public Company ltd and Infrastructure Leasing and Financial Services ltd.
The project would be undertaken on design, build, finance, operate and transfer (DBFOT) basis, a Maytas release said here today.
The route would comprise three lines -- a 30 km stretch connecting Miyapur to L B Nagar; a 15 km line from Jubilee Bus Station to Falaknuma and a 26 km line from Nagole to Shilparamam.
The government is also providing real estate development rights to the consortium for 18.5 million sq ft, the release added.
Maytas Infra Assets ltd CEO Mohan Gurunath said, “We are in an era of massive infrastructure projects being developed across the country. Projects will have widespread impact and they change the way we do things-the Metro is one such project.”
“We are very proud of the fact that we have been chosen amongst the several global players to execute this project,” he added.
The consortium would pay Rs 1,240 crore to the state government in over a period of 34 years with 13.5 per cent discount rate, he added.
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First Published: Tue, Aug 12 2008. 07 57 AM IST