L&T shortly to finalize vendors of Hyderabad metro
Hyderabad- India’s largest engineering and construction company, Larsen and Toubro Ltd (L&T) declared that they will rope in an equity partner for its Rs 16,375 crore Hyderabad Metro Rail project.
Hyderabad metro rail project is one of the largest urban infrastructure project in India which is under public-private partnership. This rail project will run along 71.16km distance with three corridors having 66 stations. It is expected that this project will be completed by July 2017.
In November 2012, the largest order of Rs. 1,700 crore was handed over to South Korea’s Hyundai Rotem for rolling stock. The contract was made in rupee terms which will protect the company from exchange-rate fluctuations. They are also looking up for other vendors who will agree to sign in rupee term.
Also orders of Rs. 700 crore were placed with France-based Thales SA to set up signalling, train control and communication systems. Automated fare units will be supplied within a week’s time. Also escalator and workshop equipment will be delivered by Feb 2013. These facilities will cost around Rs. 180-200 crore to the company.
L&T in total is investing around Rs. 4,330 crore as equity. It is their biggest investment so far on any project. The debt amount is Rs. 10,478 crore. A group of 10 banks have funded for this debt in March 2011.
The trail process is expected to start by end of 2014. Currently the work of the three corridors have started with foundations being laid.
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Hyderabad, Hyderabad metro rail construction, Hyderabad metro rail project, Hyderabad metro rail project status, L&T, Larsen and Toubro Ltd
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