INDIA: Last month the government of Andhra Pradesh presented the NMII Consortium with a 'letter of award' for a design, build, finance and operate concession for the Hyderabad metro. Financial close is expected within six months.

The consortium comprises Maytas Infra (26%), Nava Bharat Ventures (27%), Italian-Thai Development (5%) and Infrastructure Leasing & Financial Services (5%). The state government and other partners will hold the balance of the shares.

The concession agreement will follow a model drawn up by the national government, setting out technical standards to be observed. It will run for 35 years, including the 5½ year construction period, with a possible 25-year extension. The winning bid did not require a state grant, and over the life of the concession the consortium will pay the state government a premium with a net present value of Rs12·4bn.

The cost of the three-line network is estimated at Rs120bn. The state government will subscribe to equity of Rs2·5bn, provide real estate development rights and will hold a 'golden share' enabling it to veto decisions on certain reserved matters.

A 4·8 km extension to the proposed route of Line 3 was also approved by the state government.

Hyderabad metro network

Line 1: Miyapur - LB Nagar 30 km
Line 2: Jubilee Bus Station - Falaknuma 15 km
Line 3: Nagole - Habsiguda - Shilparamam 26 km