Hyderabad Metro Rail Limited (HMRL) will issue the letter of acceptance to the successful bidder in about 10 days. The project, which would take off in three months, is expected to be ready in four years.
HMRL, which opened the financial bids for the 71.16-km BOT project on July 23, has recommended the Nava Bharat-led consortium comprising Nava Bharat Ventures Ltd, Maytas Infra Ltd, Italian-Thai Development PLC and IL&FS for executing the project.
However, the government is yet give a formal approval. The bids had been called for Rs 12,132 crore including a Rs 318-crore state taxes component.
According to HMRL managing director NVS Reddy, though five consortia qualified for the bids, the GVK-led consortium did not participate in the bidding. Nava Bharat and Magna Allmore consortia did not seek any grant from the government.
Nava Bharat has committed to contribute Rs 30,311 crore during the 34-year concession period including Rs 11 crore on agreement, Rs 50 crore on financial closure, Rs 200 crore in the fourth year, Rs 100 crore each in seventh, eighth and ninth year and Rs 1,750 crore a year from 18th to 34th year. Magna Allmore committed to contribute Rs 250 crore.
The contribution by Nava Bharat to the government during the concession period at the present value stood at Rs 2,463 crore and that of Magna Allmore Rs 171 crore. Considering the commitments made, the three-member committee finalised the Nava Bharat consortium. Two others – Essar and Reliance-led consortia – sought a grant of Rs 3,100 crore and Rs 2,811 crore respectively.
“The Hyderabad Metro is a financially sustainable project. Real estate property will be built and leased out in addition to the ticket fares for revenue generation,” he said, adding three depots at Miyapur (100 acre), Nagole (100 acre) and Faluknuma (17 acre) will be built. Malls and commercial complexes will come up at these depots.
This apart, 33 out of the 66 stations will be built to support commercial activity. All these would have to be transferred to the government after the concession period expires.
About 20 feet of the road will be utilised for constructing 10-feet wide pillars at 100 m intervals and use 30 m of air-space for two rails. As many as 78 trains will ply on three sectors with five minutes interval.
