Lifestyle

Telangana sets up SPV to extend metro line to Shamshabad airport

[ecis2016.org] The Telangana government has set up a special purpose vehicle to extend the Hyderabad metro rail’s services to the international airport at Shamshabad

The Telangana government has set up a special purpose vehicle (SPV), which will be jointly promoted by the Hyderabad Metro Rail Limited (HMRL) and the Hyderabad Metropolitan Development Authority (HMDA), to extend the Hyderabad metro rail’s services to the international airport at Shamshabad, a state government order said. The HMRL released a copy of the order to the media, on March 25, 2018.

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“For immediate implementation of the airport express metro corridor from Biodiversity Park to the Shamshabad airport, with extension of Corridor-III, Raidurg to Biodiversity Park (30.7 kms) and to develop townships near new metro stations en route the airport corridor, managing director (MD), HMRL, has submitted a proposal for creation of a SPV,” it said. HMRL will have 51 per cent share in the SPV and HMDA a bit less than 49 per cent, the order said.

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The government has created the SPV after consideration of the draft Memorandum and Articles of Association, as forwarded by the HMRL’s MD, it said. The SPV has been named ‘Hyderabad Airport Metro Limited (HAML)’ and chief secretary SK Joshi is its chairman and HMRL, MD, NVS Reddy its managing director, according to the order. HAML shall be incorporated with an authorised share capital of Rs 100 lakhs, divided into 10 lakh equity shares of Rs 10 each, it said. The HMRL had launched the Phase-I of the project in 2017.

Source: https://ecis2016.org/.
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Source: https://ecis2016.org
Category: Lifestyle

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