L&T wins Hyderabad Metro Rail project
15 July 2010Larsen and Toubro (L&T), India-based engineering and construction group, has won INR121,320 million ($2594 million) Hyderabad Metro Rail (HMR) project in India.
L&T was the winner of the mega project, which was initially awarded to Maytas Infra in 2008. The authorities called for fresh global bids in 2009 after terminating the deal with Maytas, a sister-concern of scam-hit Satyam Computer Services, as it failed to achieve financial closure. Eight consortia had qualified to file the financial bids. These include consortia led by Reliance Infrastructure, Lanco Infratech, GVK, GMR, L&T, Soma-Straburg, Transstroy and Essar groups.
The 71.6 kilometers long elevated metro rail project will be taken up in public private partnership (PPP) on design, build, finance, operate and transfer (DBFOT) basis. The work on the project is likely to start by October and the entire project is expected to be completed in four years.
