Hyderabad, Oct 6 (IANS) L&T Metro Rail (Hyderabad) Ltd (LTMRHL) has completed 67 per cent of the work on the prestigious Hyderabad Metro Rail project, the company said on Thursday.
LTMRHL, a subsidiary of construction major Larsen & Toubro, reiterated that it remained committed to the project and was making all efforts to complete it expeditiously.
The firm issued a statement amid rumours about the project.
The official, however, declined to comment as to when the two stretches ready for operations will be thrown open to public.
He said 20 km metro rail in two stretches were technically ready.
According to the developer, the Commissioner of Metro Rail Safety (CMRS) has completed the inspection and issued the certification for Nagole to Mettuguda and S.R. Nagar to Miyapur stretches.
The first stage was earlier scheduled to be commissioned in January 2015 but it missed the deadline and uncertainty remained as to when the project will begin its commercial operations.
S.N. Subrahmanyan, Deputy Managing Director and President, L&T and Non-Executive Chairman, LTMRHL, said the project was moving on the right track and L&T was committed to the project.
Subrahmanyan had said in May this year that 71.16 km elevated metro rail project was likely to be fully operational by December 2018.
“We are sticking to the same deadline,” Sanjay Kapoor, General Manager and Head, corporate communications, LTMRHL, told IANS.
As per the concession agreement signed with the then government of united Andhra Pradesh in 2010, the project should have been completed by July 2017.
According to update on project status, 17 stations were completed on two stages while work was in progress on three interchange stations and other 30 stations.
The concession agreement for Rs 14,132-crore project, said to be the largest metro project in the world in public-private partnership, was signed in September 2010 but the work commenced in July 2012.
LTMRHL in 2011 had achieved financial closure for Rs 16,375 crore — Rs 14,132 crore for the metro rail system and Rs 2,243 crore for the first phase of real estate development.
While admitting in May this year that there has been cost escalation, the company did not share the figures, saying they are “dynamic”.