Engineering and construction major L&T announced that it has achieved financial closure for the Rs 16375-crore Hyderabad Metro Rail project. The financial closure could be achieved with the help of a 10-bank consortium led by SBI pitching in with Rs 11478 crore debt. The 10 bank consortium will help to meet 70 per cent of the total cost.
The increased project cost of Rs 16375 crore, against the Rs 12,132-crore bid includes Rs 14132 crore for the 71-km metro rail system and Rs 2243 crore for real estate component in phase one. The project has viability gap fund of Rs 1,458 crore. The government had earlier frozen the project cost at Rs 12,132 crore.
L&T Metro Rail Hyderabad has achieved the financial closure for the Rs. 16375 crore (Rs. 163.75 billion) Hyderabad Metro Rail project, making it the largest ever fund tie up in a public private partnership project in India.
.jpg){kind=logo}
Comments
All Comments (0)
Join the conversation