The empowered committee of the department of economic affairs of the Union ministry of finance accorded final approval for Viability Gap Funding (VGF) of Rs 1,458 crore (12.35 percent of the total project cost of Rs 11,814 crore) under the Viability Gap Funding (VFG) Scheme for development of Hyderabad Metro Rail (HMR) on Design, Build, Finance, Operate and Transfer (DBFOT) basis. The approval was given by the empowered committee, headed by Arvind Mayaram, secretary in the department of economic affairs, at its meeting held in Delhi on Monday.
Union minister for finance P Chidambaram had earlier granted in-principle approval for VGF to the Rs 14,132-crore project.
HMR is the world’s largest elevated metro rail project taken up in PPP mode on DBFOT basis with three high-density corridors _ Corridor-1: Miyapur to LB Nagar (29 km), Corridor-2 : Jubilee Bus Station in Secunderabad to Falaknuma (15 km) and Corridor 3: Nagole to Shilparamam (28 km).
The fares are likely to range from `8 to `19. For the convenience of differently-abled persons, it will have skywalks, escalators, lifts and facility to board trains sitting in a wheel-chair.
■ Corridor-1: Miyapur-LB Nagar (29 km)
■ Corridor-2: JBS-Falaknuma (15 km)
■ Corridor-3: Nagole-Shilparamam (28 km)