Larsen & Toubro (L&T) has bagged the Hyderabad Metro Rail (HMR) project worth Rs 12,132 crore. The bid had initially gone to Maytas Infra, but it was scrapped after they could not achieve financial closure last year, following the Satyam scam. The government had invited fresh bids in July 2009.
The HMR project has been in limbo since it was announced three years ago. The 71-kilometre elevated metro rail project will be done in a public-private-partnership model on the basis of design, build, finance, operate and transfer (DBFOT).
Eight consortia had qualified to file the financial bids including those led by Reliance Infrastructure, Lanco Infratech, GVK, L&T, Soma-Straburg, Transstroy and Essar Group.
Larsen & Toubro Ltd is a $9.8 billion technology, engineering and construction group with global operations.