Maytas ineligible to bid for Hyderabad metro rail, again

Maytas Infra, which is hoping to rebid for the Rs 12,000 crore Hyderabad metro rail project once again, might find itself ineligible to do so. CNBC-TV18’s Vishwanath Pilla reports.

The Andhra Pradesh government, which terminated the Rs 12,000 crore Hyderabad metro rail project awarded to Maytas Infra in consortium a couple of weeks back, is ensuring that the company and its consortium partners will become ineligible to rebid for the project. The request for qualification document released by the Hyderabad metro rail authorities says, “Any consortium member or associate expelled from any project or contract by any public entity will become ineligible for the project.”

The document also stated that the Andhra Pradesh government got in-principle approval from the centre to get a viability gap funding of Rs 2,363 crore, which is 20% of the total cost of the project.

Apart from this, there is also a provision of both the government of Andhra Pradesh and the centre to fund the project to the extent of 40%. Also, the successful bidder will get 18.5 lakh sq ft of real estate development in 34 stations across the metro rail project.