The Hindu : Andhra Pradesh / Hyderabad News : More Central funds for Metro Rail

Online edition of India's National Newspaper
Wednesday, Aug 01, 2007
ePaper

Andhra Pradesh

Andhra Pradesh - Hyderabad

More Central funds for Metro Rail

Funding enhanced by 10 per cent in addition to Rs. 1,639 cr

Metro rail planned on three routes
63 stations at an interval of 1 km

HYDERABAD: The Hyderabad Metro Rail project received a shot in the arm with the Union Government agreeing to enhance its funding by 10 per cent in addition to the Rs. 1,639 crore it had approved a few months ago.

Detailed presentation

The assurance came from Union Finance Minister P. Chidambaram and the Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia, in the presence of the Prime Minister, Manmohan Singh, here on Tuesday.

A detailed presentation was made to the Prime Minister on the proposed Rs. 8,482-crore project, along with other infrastructure projects which were put before the dignitaries for financial assistance.

Major share of funds

The Chairman of Hyderabad Metro Rail Limited, S.P. Singh, and Managing Director N.V.S. Reddy participated in the project presentation.

The prestigious project was to get 40 per cent of its funding from the Central and State Governments as Viability Gap Funding (VGF) as grant amounting to about Rs. 3,278 crore.

Extra funding

While HMR made a case for 35 per cent funding, the Centre had cleared 30 per cent which would amount to about Rs. 2,459 crore with the additional Rs. 820 crore. It also means the State’s burden would get reduced by the same amount of Rs. 820 crore, explained Mr. Reddy.

The extra 10 per cent funding would come under the Jawahar Lal Nehru National Urban Renewal Scheme (JNNURM), he added.

The prospective Build, Operate and Transfer (BOT) developer bidding for the lowest funding support is to get the contract after the technical and financial bids are vetted.

Metro rail is being planned on three routes of (Line 1) - Miyapur to L.B.Nagar, (L2) Jubilee Bus Station to Falaknuma and (Line 3) - Habsiguda to Madhapur with 63 stations at an average interval of 1 km each.

Printer friendly page
Send this article to Friends by E-Mail

Andhra Pradesh