HYDERABAD: 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.
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.