Hyderabad: L&T Hyderabad Metro Rail has made it clear to the Telangana state government that opening of the Nagole to Mettuguda stretch on June 2 will not be possible because of pending clearances for the safety certificate.
L&T has stated that there are still a few departments that need to clear the processes required for the railway safety certificate. It’s claimed that these formalities will take at least two to three months and it will not be possible for the project to get a clearance by May 31.
While the company maintains this stand, sources said that the operational cost of the Nagole to Mettuguda is too high. A senior officer said, “It is an eight-km stretch and off-loading passengers at Mettuguda does not serve the purpose. Passengers will have to take another transport to reach their destination. Hence it is not a nodal point.”
However, if the Miyapur to S.R. Nagar stretch is started, it will be commercially viable as it is a heavy traffic route and well-connected. Eighty per cent works are completed on this 20-kilometre stretch, according to officials.
Another senior officer said, “The first experience of the Metro is what the commuter will remember. Hence if he/she is put to hardships and has to opt for other modes of transport, the purpose is not served. We want to start a stretch which will make people realise that it will change their life and make travel easy in the city.”
L&T: We will complete it
After discussions with the Telangana state government, L&T Metro Rail Hyderabad Limited chairman S.N. Subrahmanyan, said, “We have had meetings and written to them. At this point in time we are not looking at any compensation or arbitration with the government. It is the first public-private project of the company and we want to complete it.”
The estimated total cost of the project is Rs 14,000 crore and Rs 9,000 crore has been spent. The project is financed through an equity of 30 per cent and 70 per cent by debt. The company has raised debt of nearly Rs 11,500 crore from a consortium of 10 banks.
The Centre has sanctioned Rs 1,458 crore under their viability gap funding of which Rs 600 crore has been drawn. In all, 62 per cent of work has been completed. Interestingly, this is the first project that Mr V.B. Gadgil has left incomplete.
