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Hyderabad Metro for Sale?

Written By Indiagreat .in on Thursday, 6 October 2016 | 12:18:00

Hyderabad Metro for Sale?
Ever since the works of Hyderabad Metro Rail Project commenced, people have been patiently waiting for the services to commence in the hope of getting relief from road traffic. However, the Telangana govt. continues to postpone the already announced dates and now it is reported that L & T, the project-holder, is secretly moving pawns to step away from the Metro Project.

A 72km rail transport way across three corridors was to be constructed in a period of five years as part of this project. Nearly 70 percent of work has been completed but the commencement of services continues to get postponed with the state Govt. not allotting all the necessary permissions, as per reports. Land acquisition at few places, especially in Old City, and 'Right of Way' issues are reportedly deterring the construction works with the state govt. acting very slow.

The project was started with an estimated budget of Rs 14,132 crore but due to the delays, it will reportedly cost them Rs 2,500-3,000 crore extra. 'L & T has already invested Rs 10,000 crore but a big chunk of work is still pending,' said a top official of the construction giant, which also is rumored to be miffed with the state govt. for not providing necessary permissions in time.

Keeping all this in mind, L & T has reportedly decided to opt out of the project works. Reports emerged that L & T has already started discussing with potential buyers in and outside India to sell off their shares in the project and hand over the responsibilities of project completion.




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