L&T Romball hired as consultant to pen phase-II blueprint
To ensure the viability and growth of the just-launched multi-modal transport system (MMTS) project in Hyderabad, the state government and South Central Railways (SCR) have proposed to float a special purpose vehicle (SPV).
SCR has appointed L&T Romball as consultant to prepare a blueprint for the phase-II of the project and to scout for a prospective private investor.
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Disclosing this, the union minister of state for railways, Bandaru Dattatreya, said the SPV will be run under private management and SCR, which has been executing the MMTS, will withdraw from its role.
It is estimated that the second phase of MMTS will cost around Rs 100 crore. Under the second phase, stretching a length of 14.54 km the Secunderabad-Falaknuma will be connected. The cost of first phase of Rs 162 crore MMTS was contributed equally by SCR and the state.
As per the agreement signed between the state and SCR, the upkeep of MMTS will be handed over to private parties, and the joint venture company will have officials from the both the state and SCR, Dattatreya explained.
Adding that private participation in MMTS project will lead to a healthy competition, Dattatreya said,