Buoyed by the commissioning of the 29-km stretch, Hyderabad Metro Rail Ltd (HMRL) has not just hastens the project to commission two stretches of the 72-km elevated metro project by June 2018, but also decided to build third stretch, connecting Old City with a 6-km stretch beyond the Musi river and complete the expansion by November 2019. Outlining the way forward and the progress the project has made thus far, Managing Director of HMRL, NVS Reddy, said, adding that the government is simultaneously working on development of related infrastructure, including greenery along the metro network. Towards this, the building contractor is in the process of pitching for a Rs.1,000 crore loan from German lending agency KFW. To date the concessionaire L&T has invested over Rs.14,261 crore in the project, while HMRL, on the government side, has chipped in about Rs.2,250 crore. HMRL had planned an outlay of Rs.3,000 crore towards land purchase and acquisition of properties to provide right of way of which Rs.2,250 crore has been invested by the State and of the Rs.1,458 crore VGF, the Centre has to provide another Rs.500 to L&T matching cost escalation.
