The government had to call for fresh bids after scrapping the agreement signed with the previous consortia led by Maytas Infra following its failure to achieve financial closure in time.
Bids for Hyderabad Metro Rail (HMRL) will be accepted until April 21 and the consortium will be selected by the end of the month, a top official of the HMRL said in Hyderabad.
"We don’t anticipate any problem in executing the project and it will happen as scheduled. The clarifications sought from two bidders have been received. So all the eight consortia will take part in the process," said NVS Reddy, managing director, HMRL, adding the new developer will begin work on the project by the end of the year.
The government had to call for fresh bids after scrapping the agreement signed with the previous consortia led by Maytas Infra following its failure to achieve financial closure in time.
Maytas Infra-led consortium, which won the bid earlier in 2008, could not complete the financial closure after Satyam Computers sank in troubles. Maytas was promoted by the sons of Ramalinga Raju.
The 71km-long metro rail,the longest in the country could cost about Rs12,000 crore.
According to Reddy, the developer will be able to earn 80% of revenues through passenger traffic. The remaining 20% can be generated by renting out the 18.5 million sq ft real estate space alongside.
"As no private land will be acquired, there won’t be any bottlenecks on this count. The city will need the combination of MMTS, metro and bus services as the right mixture," Reddy said.
The consortia qualified to participate in financial bids are, Transstroy (OJSC Transstroy (Russia)-CR18G (China)-BEML), Reliance Infra-Reliance Infocomm (ADAG), Lanco Infra-OHL Concessions (Spain), Essar-Leighton (Australia)-Gayatri-VNR, GMR Infra, GVK-Samsung (South Korea), Soma-Strabag AG (Austria) and Larsen & Toubro.
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