Ipf - HMR
Ipf - HMR
Ipf - HMR
Project Description:
Growing city that covers 625 square kilometres of municipal corporation area and 6,852
square kilometres of metropolitan area.
It is a hub for Information Technology / Information Technology Enabled Services (IT/ITES),
Biotech and Pharmaceutical sectors along with being a tourist attraction.
The burgeoning population has put Hyderabads transportation system under immense
pressure because of which the city requires a robust, dependable, comfortable, affordable
and sustainable transportation system.
To address this need, the Government of Andhra Pradesh (GoAP) has planned a Mass Rapid
Transit system (MRTS) covering three high traffic density corridors of Hyderabad.
Metro Rail Network
Consisting of three high density corridors, Hyderabad Metro network will cover a total distance of
71.16 km involving 66 ultra-modern station buildings with state-of-the-art depots and complete
infrastructure.
Corridor - I Miyapur - LB Nagar (28.87 km - 27 stations)
Corridor - II JBS Falaknuma (14.78 km - 16 stations)
Corridor - III Nagole Shilparamam (27.51 km - 23 stations)
Stage Target Section Distance (in km) Line Expected Completion date
Stage 1 Nagole to Mettuguda 8 Line III March 2015
Stage 2 Miyapur to SR Nagar 11 Line I August 15, 2015
Stage 3 Mettuguda to Begumpet 10 Line III November 14, 2015
Stage 4 Begumpet to Shilparamam 9.51 Line III August 15, 2016
Stage 5 SR Nagar to LB Nagar 17.87 Line I August 15, 2016
Stage 6 JBS to Falaknuma 14.78 Line II June 1, 2017
3 corridors of Phase 1
Under Construction Metro Projects
Planned Metro Rail Projects
PPP Structure
The Team Authority, Concessionaire & Consultants
PPP Structure
Hyderabad Metro Rail Ltd, a fully owned Public Sector Undertaking of GoAP.
The project is to be developed under a concession agreement on BOT basis for a period of
35 years, including a construction period of 5 years. The assets would be constructed or
procured through contractors and equipment suppliers.
In addition, the operator would also have access to the commercial development of land
available at the depots (212 acres) and 10% of the carpet area of the station sites identified
in the concession agreement.
The SPV would also be allowed to undertake real estate development over the parking and
circulation areas at stations.
A Special Purpose Vehicle (SPV) named Maytas Metro Limited (MML) was formed with
Maytas Infrastructure holding 26% equity, Government of Andhra Pradesh (GoAP) holding
11% Nav Bharat Ventures holding 16% and IL&FS and Ital-Thai holding 5% each. MML owned
the remaining 37%, which it proposed to sell partially or completely, at a premium by roping
in more partners.
Financial Model & Pattern
Implementing Entity:
Concessioning Authority: Hyderabad Metro Rail Limited (Govt. of AP)
Concessionaire (Pvt. Sector): L&T Metro Rail (Hyderabad) Ltd, an SPV of USD 12 b L&T.
Project cost : INR 16200 Crores
(MRT : 2.66 b + Property Devpt : 0.41 b)
Senior Debt : USD 2.16 b
Subordinate Debt : USD 0.18 b
Equity : USD 0.46 b
Other Sources (VGF): USD 0.27 b
Total : USD 3.07 b
IRR:
Project IRR : 13.89%
Equity IRR : 17.50%
Deal Structure
Financed by:
Equity - L&T (21%),
Debt - Consortium of ten banks led by SBI (70%) and
VGF - Government (9%).
Constructed and operated by: L&T Metro rail (subsidiary of L&T IDPL).
Customers:
Passengers, shops, commercial tenants.
SBI Exposure
A consortium of 10 banks, led by SBI, had come forward to make available Rs 11,480 crore for this
project.
The L&T Metro Rail (Hyderabad) Limited, a subsidiary and a special purpose vehicle of the L&T
Infrastructure Development Projects, provided Rs 3,440 crore as its capital.
Besides this, the SBI is to lend Rs 3,000 crore for the project.
Means of Finance
Particulars Amount (Crores)
Debt Rs. 11,478.00 (70.1%)
Equity Rs. 3439.00 (21.0%)
Viability Gap Funding (GoI) Rs. 1,458.00 (8.9%)
Total Rs. 16,375.00
Cost Escalation:
The cost of the metro rail project estimated in 2008 to be Rs 12,132 crore, had already shot up to
over Rs 16,000 crore over the past three years due to inflation and steep increase in steel and cement
prices.
Advantages:
Elevated world-class station buildings at approximately every kilometre.
Connects major offices, retail and residential areas - The two tracks (up and down lines) pass
through the arterial roads of the city
Connects major bus stations at Miyapur, MGBS, Koti, Dilsukhnagar, Charminar and Jubilee Bus
Station.
Integration with existing rail terminals at Secunderabad, Begumpet and Nampally.
Link to MMTS services at Bharatnagar, Begumpet, Khairatabad, Malakpet & Falaknuma
Feeder bus services to stations from different areas of the city is being planned by GoAP.
Preoperative Risks:
Preoperative Risks:
Construction Phase Risks:
Construction Phase Risks:
Operational Phase Risks:
Operational Phase Risks:
Handover Risks:
Other Risks:
Thank you
Group 3
Ajay
Jimit Salot A 21
Sanjay Agarawal
Pradnya
Devanshu Sampat