Concession Agreement Hyderabad Metro Rail Project

15 Sep Concession Agreement Hyderabad Metro Rail Project

Concession contract for Hyderabad metro until the end of September (13-Sep-08) The >Metro Rail (Hyderabad) Limited has already provided GoAP with a performance guarantee of Rs 360 billion, which clearly intends to implement the prestigious project on schedule. In accordance with the provisions of the concession contract, the construction must be completed in 5 years. The duration of the project concession is 35 years (including 5 years of construction) and can be extended for a further 25 years. The operation of the metro in the city stopped from March 22 due to the lockdown announced by the center. “. However, the company is protected by the force majeure clauses of the concession contract in order to require an extension of the concession period corresponding to the period during which the concessionaire was prevented from collecting the ticket price and reimbursing the force majeure costs. The company`s management will study the impact and assert reasonable rights within a reasonable time as soon as operations resume,” the annual report states. Based on a series of transport and transport studies conducted by different authorities, the Government of Andhra Pradesh (GoAP) has authorised the development of the Hyderabad Metro Rail (MRTS) project in three highly condensed transport corridors of the city, which extend over 72 km in Phase I. Detailed Project Reports (DPRs), Transport Investigation Reports and other related reports have been prepared by the Delhi Metro Rail Corporation (DMRC) for the project. This may be renewable for a further period of 25 years, provided that the SPV (affected vehicles) fulfils certain conditions laid down in the concession contract. L&T Metro Rail (Hyderabad) said it had already provided the state government with details on the project`s cost overrun for Rs 3.756 billion and had “followed up with the government with a view to making the task easier”.

The initial cost at the time of design was Rs 16,375 crores, which have now exceeded Rs 20,000 Crore. In total, 10 banks participated in the financing of this prestigious project. Canara Bank, Indian Bank, Indian Overseas Bank, Jammu & Kashmir Bank, Punjab & Sind Bank, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and Syndicate Bank are among the main banks that will participate in the project. h) First metro in India equipped with railway safety techniques, in accordance with the European directive EN50126, under the direction of the Independent Safety Accessor. (b) Integration with existing rail terminals in Secunderabad, Begumpet and Nampally. In an interaction with netizens via Twitter, Telangana KT Minister Rama Rao said on Sunday: “We are waiting for the Nod from the Indian government” about the resumption of metro service in the city. Hyderabad (Metro Rail News) – As uncertainty persists over the resumption of metro service, L&T Metro Rail (Hyderabad) Limited may invoke a force majeure clause with the Telangana government to request an extension of the concession period corresponding to the period during which it was unable to work due to the lockdown, said the company in its latest annual report. This may be renewable for a further period of 25 years, provided that the SPV (affected vehicles) fulfils certain conditions laid down in the concession contract. The Hyderabad Metro Rail project was considered by the Telangana government to cover three busy corridors of the city. The project is structured as a public-private partnership (PPP) based on design, construction, financing, operation and transfer (DBFOT) with a concession term of 35 years, which can be extended by 25 years from the set date of the project. . .

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