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.
Credits ET Realty