Financial Closure for this mega Project was achieved within a record period of six months in the first week of March 2011. Financial Closure as achieved by the Concessionaire is for Rs.14,132 crores for the Metro Rail system cost as against the approved cost of Rs.12,132 crores. However, the VGF remains as the earlier approved Rs.1,458 crores. A consortium of 10 nationalized banks lead by SBI has approved the Financial Package.
The Concessionaire has fulfilled Conditions Precedent, such as providing Performance Security of Rs.360 crore; execution of Escrow Agreement; Substitution Agreement and Shareholders' Agreement along with Financial Agreements. Concessionaire has fulfilled all Conditions Precedent except certain Applicable Permits which will be obtained as and when required.
Government on its part, provided the Right of Way (RoW) & Lands required for construction of Rail Track; issued Fare Notification; and procured approval of all Railway crossings. Government has provided 57 acres of land for Parking & Circulation Areas as per Concession Agreement and also made available 212 acres of land for three Depots for three Corridors.
Government has set up Special Task Force (STF) headed by the Chief Secretary for regular monitoring of the progress of the Project. Hyderabad Metro Rail Ltd, the nodal agency for supervising the Project has appointed Louis Berger as Independent Engineer, apart from having a panel of nine well experienced Metro Rail/Main Rail retired Chief Engineers for technical guidance.
Government has sanctioned an expenditure of Rs.3000 crores towards Land acquisition, R&R, Road Widening, Utility shifting etc.
Most of the engineering design works have been completed and the status of procurement contracts are follows:
| Packages | Vendors |
|---|---|
| Viaduct, Stations & Depots | L&T Construction |
| Rolling Stock | Hyundai Rotem, South Korea |
| Power supply + SCADA | L&T Construction |
| Traction | L&T Construction |
| Signaling & Train Control | Thales, Canada (French company) |
| Communication | Thales, Portugal (French company) |
| Track works (Turnouts / Rails / Fastening system) | L&T Construction along with (Voest Alpine, Austria + Tata Corus, France + Vossloh, Germany) |
| O&M Operator | Keolis France |
| Automatic Fare Collection (AFC) | Samsung, South Korea |
| Elevators & Escalators | OTIS, US |
For the first time in India, the Project is being implemented with CBTC (Communication Based Train Control) technology, the latest Metro Rail technology which is becoming increasingly popular in modern Metro systems.
The construction of three Corridors is being taken up in six stages
| Corridor Number | Corridor Details |
|---|---|
| Corridor I | Miyapur to LB Nagar |
| Stage 2 | Miyapur to S R Nagar |
| Stage 5 | S R Nagar to L B Nagar |
| Corridor II | JBS to Falaknuma |
| Stage 6 | JBS to Falaknuma |
| Corridor III | Nagole to Shilparamam |
| Stage 1 | Nagole to Mettuguda |
| Stage 3 | Mettuguda to Begumpet |
| Stage 4 | Begumpet to Shilparamam |
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'Appointed Date' for the Project was declared as July 05, 2012 jointly by the then Government of Andhra Pradesh and the Concessionaire, L&TMRHL. The Concession Period of 35 years including 5 years of Construction Period will be counted from this date.