[sustran] Hyderabad Metro project faces 18-month delay

[Vinay Baindur]

http://realty.economictimes.indiatimes.com/news/infrastructure/hyderabad-metro-project-faces-18-month-delay/52120598



Hyderabad Metro project faces 18-month delayS N Subrahmanyan, Deputy
Managing Director and President, L&T said they are in discussions with the
government on the delay and possible financial implications on the project.
PTI  |  05 May 2016, 1:30 PM IST

HYDERABAD: L&T Hyderabad Metro Rail, a subsidiary of Larsen & Toubro which
is implementing the Rs 16,000-crore elevated metro rail project here, today
said the work is expected to be delayed by almost 18 months.

"There is a delay in the project due to various reasons. The present
projection is that we are likely to complete the project by December 2018.
Earlier, it was projected that we would be able to complete it by July
2017," MD and CEO of L&T Metro Rail Hyderabad Ltd (LTMRHL), V B Gadgil told
reporters.

S N Subrahmanyan, Deputy Managing Director and President, L&T and Chairman
of LTMRHL said they are in discussions with the government on the delay and
possible financial implications on the project.

"Naturally, the talks are going on with the government. Let's see how we
will take it forward," Subrahmanyan said, when asked whether the concession
period would be extended by the government due to the delay.

The company has so far pumped in Rs 9,000 crore into the project, including
Rs 2,700 crore equity component, A senior official of LTMRHL said adding
the project includes constructing a 72-km elevated metro rail and
development of retail space.
Meanwhile, it was informed Shivanand Nimbargi is set to take over as MD and
CEO of LTMRHL on May 31. Prior this, he was the holding the same posts at
Sembcorp Green Infra Ltd. GDK SDL ABI