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Tenders for Vizag metro to open in January

The Vizag metro rail project has been taken up under a unique PPP model and there will not be any financial burden on the government, said Karikal Valaven, principal secretary, municipal administration and urban development,during a review meeting at the VMRDA office on Wednesday."The tenders will be opened in January and work is likely to begin in the second half of 2018," said Valaven. Amaravati Metro Rail Corporation managing director NP Ramakrishna Reddy said the state government would allocate 250 acres land to the AMRC. The land will be commercially developed to reap maximum revenue to repay the 4,200 crore loan,which it will avail on its part from the external funding agencies towards development of the project. While the AMRC will mobilise the 4,200 crore through external borrowing, the developer will bring in the remaining funds for this nearly 8,300 crore project.

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