Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
BUSINESS

GMR to Invest Rs 500 Crore in Metro Rail Project

The GMR group, which is operating Rajiv Gandhi International Airport (RGIA) here, will be investing over Rs 500 crore in a Rs 5000 crore metro rail link project proposed by the Telangana government for connectivity to the airport from various parts of the city.

According to a consultation paper on the tariff revision for the third control period (April 2021 to March 2026) proposed by GMR Hyderabad International Airport Ltd, issued by Airports Economic Regulatory Authority, the aerodrome operator will be investing Rs 519.52 by 2024. The envisaged project cost of the metro line would be around Rs. 5000 crore, of which HIAL’s contribution would be in the range of Rs. 500 Crores (10 per cent of the project cost) which is equivalent to the estimated cost of metro connectivity within the airport precinct, the consultation paper said. The Telangana government has conveyed its approval to extend a metro rail link to RGIA from various parts of the city under phase II of the Hyderabad Metro project.

Get Daily Prediction & Stocks Tips On Your Mobile