Hyderabad gets its own Metro project

The Indian Union Government has approved the Hyderabad Metro Rail Project. the government has also decided to extend financial assistance under Viability Gap Funding scheme.

The decision was taken in a meeting presided by Finance Additional Secretary Khullar. They approved the project which is expected to cost around Rs 8,482 crore.

The central government would provide Rs 1,639 crore in financial assistance which comes to around 20% of the entire project’s cost.

Around 60% of the project’s investment would be met by private BOT (build-operate-transfer) developer. The Andhra Pradesh government would chip in the rest of the funds.

Managing Director-designate of Hyderabad Metro Rail (HMR) Ltd N V S Reddy said that all the routes in the city would be given “as a single package” to only one developer. The developer would be required the complete the system within five years.

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