L&T Metro to close deals soon

Mar 05, 2013

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Hyderabad Metro Rail

Hyderabad: L&T Metro Rail, the concessionaire for Hyderabad Metro Rail, hopes to seal deals on automatic fare collection system and elevators within a month.
“In a week to 20 days, we will finalise orders for fare collection and elevators, as technical negotiations are done already. The rest of the procurement orders, like depot equipment, will be done by mid February,” L&T Metro Rail CEO V.B. Gadgil, told mediapersons after unveiling the logo for the metro rail on Tuesday.
The company had already awarded the Rs 1,800-crore contract for supplying 627 rail cars for 57 trains to Hyundai Rottem in 2012.
The metro rail, which runs through three congested routes in the city, is expected to begin by the end of 2014 on the Uppal and Mettuguda stretch.
L&T Metro, which had invested around `600 crore equity in the project, does not rule out the possibility of inducting a strategic partner after the rail gets operational.
The over `15,000-crore project is expected to be completed by July, 2017.
“Sometime later, we will definitely look at it. If we were able to create value out of the project, then we will definitely look for an equity partner,” Mr Gadgil said.

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