L&T gets $2.6 bln Hyderabad metro project MUMBAI (Reuters) - Engineering and construction conglomerate Larsen & Toubro (LT.NS <http://in.finance.yahoo.com/q?s=LT.NS> : 1883.85 +45) said on Wednesday it had won rights to develop the Hyderabad Metro Rail project.
Larsen emerged as the lowest bidder, with a bid of 121.32 billion rupees ($2.6 billion) to build and operate the project, its spokesman told Reuters. The 71-kilometre-long elevated metro rail project in Hyderabad will have 66 stations and will be completed within five years, L&T's chief financial officer Y. M. Deosthalee told news channel ET NOW. The company aims to achieve financial closure for the project within six months. The project had earlier been awarded to Maytas Infra Ltd, controlled by the founders of fraud-hit outsourcer Satyam (SATYAM.BO<http://in.finance.yahoo.com/q?s=SATYAM.BO>: 90.2 -1.05) Computer. But the contract was scrapped as the company was unable to achieve financial closure after being linked to the Satyam fraud. The state government invited fresh bids in July 2009, attracting interest from several bidders including Reliance Infrastructure, Lanco Infratech and GVK Power & Infrastructure. http://in.biz.yahoo.com/100714/137/bavy7l.html -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
