HYDERABAD, INDIA (Metro Rail News): The GMR Group, which manages Rajiv Gandhi International Airport (RGIA), will invest over Rs. Five hundred crores in the Rs. 5,000 crores Metro Rail Link project proposed by the Telangana government for airport connectivity from various parts of the city. Hyderabad International Airport Economic Regulatory Authority
GMR Hyderabad International Airport Limited has submitted its tariff revision to the Airport Economic Regulatory Authority for its third control period from (April 2021 to March 2026). Accordingly, GMR will invest Rs. 519.52 crore in the metro project by 2024. The estimated cost of the entire Metro Rail project is around Rs. Five thousand (5000) crores out of which 10%, i.e., Rs. 500 crores will be bear by GMR Hyderabad International Airport Limited. The consultation paper stated that this is equivalent to the estimated cost of metro connectivity at the entire airport. In addition, the Telangana government has approved the extension of the Metro rail link to RGIA from various parts of the city under the second phase of the Hyderabad Metro project.
The state government has already made a special arrangement for this. Accordingly, Hyderabad Airport Metro Limited (HAML) is responsible for the development, construction, operation and maintenance of the Airport Metro Link. The total length of the planned airport metro link is about 31 KM. The plan addresses setting up three metro stations on the RGIA campus and developing an eight-kilometre alignment.
On the other hand, there are indications that L&T will sell its stake in the Hyderabad Metro Rail project due to corona problems. In addition, L&T announced that it was selling non-key assets, said officials.
NABA Core Assets in Uttarakhand plans to sell 1400 MW (MW) NABA Thermal Power Project. Sen said this in a statement released concerning the sale of L&T’s 99 MW hydropower project to Renew Power. L&T has a 90 per cent stake in the Hyderabad Metro, a public-private partnership, while the Telangana government owns 10 per cent. The list released to this extent includes details of Hyderabad Metro as well as other assets.
The burden on L&T has increased due to debts along due to the pandemic. The estimated cost of the Metro project is Rs. 16,571 crores. Due to various reasons, the estimate has reached Rs. 18,971 crores. However, the total amount collected through debts was Rs. 13,500 crores. As a result, it suffered losses of Rs. 383 crores in 2019-20. 12,166 crores in 2020 21 alone, said officials.