Hyderabad, January 17: Eight companies/consortia today pre-qualified for the Rs 12,132 crore Hyderabad Metro Rail Project which got derailed after the Maytas Infra, a sister-concern of Satyam Computer Services, failed to achieve financial closure soon after the accounting fraud in the Information Technology major came to light. .
State Municipal Administration Minister A Ramanarayana Reddy told reporters shortlisting of the bids for the project on design, build, finance, operate and transfer (DBFOT) basis on public private partnership (PPP) mode would be completed in about 12 days. The financial bids would be accepted till April nine and the new concessionaire would be in place by April-end.
The ground works are expected to start by coming October and the project would be completed in four year thereafter, he said.
Those companies/cosortia which prequalified were Larsen & Toubro, Lanco-OHL Spain consortium, the Anil Dhirubhai Ambani Group (ADAG), Essar-Leighton (Australia)-Gayatri constructions-VNR consortium, GVK-Samsung(South Korea) consortium, GMR, Transstroy-OJSC(Russia)-CR 18(China)-BEML Consortium and Soma-Strabag(Austria) consortium, he said.
The State Government would be assisted by an independent evaluation agency and the project’s technical, financial and legal consultants in the evaluation of the pre-qualification documents submitted by the eight applicants, he said.
There would be no cost overrun as fortunately steel and cement prices had come down drastically when compared to last year.
The previous concessionaire Maytas Metro Ltd failed to achieve financial closure by the due date and the governemnt had terminated the concession agreement in July 2009. Bid security of Rs 60 crore along with Rs 11 crore paid by the company had been foreited by the government which decided to float global tenders afresh. He said upto 40 per cent of the project cost (a maximum of Rs 4,853 crore) could be given as Viability Gap Funding (VGF) by the Union and State Governments. The Centre had sanctioned Rs 2,363 crore as its share under the VGF.
–Agencies