Larsen and Toubro Limited was awarded the Hyderabad Metro Rail Project by Government of Andhra Pradesh. L&T incorporated a Special Purpose Vehicle - L&T Metro Rail (Hyderabad) Limited ("The Company") to implement the Project on Design, Built, Finance Operate and Transfer (DBFOT) basis.
The Company has signed the Concession Agreement with Government of Andhra Pradesh on 4th September, 2010 and completed the financial closure for the Project on 1st March, 2011 in record six months. A consortium of 10 banks led by the State Bank of India has sanctioned the entire debt requirement of the project. This is the largest fund tie-up in India for a non-power infrastructure Public Private Partnership (PPP) project.
The Company is a subsidiary of L&T Infrastructure Development Projects Ltd., an infrastructure development arm of Larsen of Toubro Ltd.
The Company has inducted world class consultants for the execution of this prestigious Metro Rail Project. Some of the renowned consultants are Louis Berger, AECOM Feedback Ventures Consortium, Parsons Brinckerhoff, Halcrow, E&Y etc.
The company will develop 18.5 million s.ft. of Transit-Oriented Development (TOD) and is expected to trigger robust economic activity in and around the city of Hyderabad and will generate substantial employment.