The State government would acquire and provide 269 acres of land to the Hyderabad Metro Rail Project, which is being built for Rs.12,132 crore by Larsen and Toubro Ltd.
The government has already identified and earmarked 269 acres required for the three high density metro rail corridors of the city spanning over 71 km. Of this, government land is 61 acres and the rest are private lands- 104 acres each in Miyapur and in Nagole.
The land will be acquired in phases from the private people under the existing process as per the registered market value on the date of notification, it is said.
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The State Cabinet, which met on Friday, examined the report submitted by the technical committee which opened and evaluated the financial bids submitted by L&T, Transstroy India-OJSC Transstroy Russia-CR18G Consortium and Reliance Infrastructure Consortium on July 14. The technical committee in its report said that L&T was finalised as the BOT developer because it sought the lowest viability gap funding of Rs. 1,458 crore while the other two companies sought Rs. 2,200 crore and Rs. 2,991 crore respectively.
Chief Minister K. Rosaiah reportedly directed the Municipal Administration and Urban Development and Finance departments to process the technical committee report and re-submit it for formal approval in the next cabinet meeting. He asked the MA and UD to ensure that the developer started work by January after achieving financial closure and completed it in four years. The government had initiated a fresh selection process for the Metro project in July 2009 after the previous concessionaire, Maytas Metro Ltd, failed to achieve financial closure by the due date.
The Cabinet, it is learnt, appreciated the special efforts made by the Chief Minister in getting clearance for the project under the category of ongoing project and for securing the VGF from the Centre. The Centre had already sanctioned Rs. 2,363 crore as its share.
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