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The Hyderabad Metro rail projects has led to the cost escalation of about Rs.2,600 crores due to lack of last mile connectivity, commissioning of the two operating routes in stages, and suspension of work on the Old City route between Mahatma Gandhi Bus Station and Falaknuma.
The total project cost of the Hyderabad Metro rail project was earlier estimated to Rs.16,571 crores which are now escalated almost by 16% i.e. Rs.18,971 crores due to various delays in commissioning of the entire routes. The completion date of the project is extended to July 2019. At present only one metro corridor is functioning in full and monetization of the Transit Oriented Development (TOD) or commercial usage at stations has led to the escalation.
Sources said that L&T Metro Rail (Hyderabad) Limited has infused Rs.2,427 crore and took loans of Rs.10,760 crore. According to the current progress of Hyderabad Metro, 28 km stretch between Nagole and HiTec City/Raidurg is on the completion stage while another corridor between Jubilee Bus Station and MGBS (9 km) is yet to be made operational.
This article first appeared on urbantransportnews.com
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