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NVS Reddy Managing Director Hyderabad Metro Rail Ltd.

Hyderabad Metro Rail in PPP Mode Presentation to the 6 th Global Infrastructure Leadership Forum. NVS Reddy Managing Director Hyderabad Metro Rail Ltd. A completely elevated MRT project in Hyderabad, Southern India 3 Corridors/Lines ( 72 km ) taken up in Phase I

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NVS Reddy Managing Director Hyderabad Metro Rail Ltd.

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  1. Hyderabad Metro Rail in PPP Mode Presentation to the 6th Global Infrastructure Leadership Forum NVS Reddy Managing Director Hyderabad Metro Rail Ltd.

  2. A completely elevated MRT project in Hyderabad, Southern India 3 Corridors/Lines (72 km) taken up in Phase I UMT sector - World’slargest Metro Rail project in PPP mode Main project cost : USD 2.66b + Property Devpt. ph.I (USD 0.41b) + Land + other costs (USD 0.37b) = USD 3.44 b Implementing Entity: Concessioning Authority: Hyderabad Metro Rail Limited (Govt. of AP)  Concessionaire (Pvt. Sector): L&T Metro Rail (Hyderabad) Limited, an SPV of USD 12b L&T Hyderabad Metro Rail Project 1

  3. Hyderabad city – geographical location India India Hyderabad 2

  4. Traffic & Transportation Scenario in Hyderabad • Hyderabad, a city of 8m pop • Capital of the Southern State of Telangana • Historical City – now hub of pharma industry, research institutes, IT/ITES Service Sector Economy • Severe traffic congestion & increasing pollution levels • Lack of efficient, reliable & comfortable PTS increase in personal vehicles: 3.0 million vehs + addition of 0.3 m p.a • Total motorized trips: 7 m per day – Bus + local rail: 44%; Two wheelers: 30%; Autos: 16%; cars: 10% 3

  5. Hyderabad Metro Rail as “ Transit + ” • Phase I: 3 corridors; 72 km; 66 stations & 3 Depots • Integration/Interchange with Main rail terminals & Bus Depots • ‘Transit +’ concept: Last mile connectivity with Feeder Buses, NMT, Pedestrian Facilities & Street Furniture • Not a simple Metro, but an urban redesign & rejuvenation effort to transform Hyderabad into a people friendly green city • Eco-friendly stations with natural ventilation, skywalks, bicycle stations & tracks and other commuter friendly facilities • Expected to generate about INR 500 b (USD 8.06b) investments in Hyderabad & it’s surroundings 4

  6. PPP Format • 35 yr concession, extendable by another 25 yrs • World’s largest Metro in ppp mode • Main project cost : USD 2.28b (INR 14,132 Cr.) + Property Devpt. ph.I USD 0.36b (INR 2,243 Cr.) + Land & other costs USD 0.32b (INR 1,980 Cr.) = USD 2.96 b (INR 18,355 Cr.) • Commercial risk by Concessionaire & no traffic guarantees • Well balanced & bankable Concession Agreement; transparent global bid process • Technology–neutral & performance based ‘output’ oriented MSS (tech specs) • RfQ & RfP stages – DCA; MSS & SHA 5

  7. PPP Format • Scope for design innovation & reduction in lifecycle costs • 269 acres (109 Ha) land; commercialexploitation of air space to create 18.5 m SFT – lease rentals • Prefixed tariff & fare escalation formula; differential tariff (peak vs off peak hours) • Stations as hubs of activity – shopping malls, multiplexes & leisure; hotels & eateries; hospitals, clinics, office space etc • Ridership & property development boosting each other  financial viability 6

  8. Funding Pattern & Financial model • Project cost : USD 2.73 b (INR 16,375 Cr.) • (MRT : 2.36 b (INR 14,132 Cr.) + Property Devpt : 0.37 b (INR 2,243 Cr.)) • Senior Debt : USD 1.91 b (INR 11,478 Cr.) • Subordinate Debt : USD 0.17 b (INR 1,000 Cr. ) • Equity :USD 0.41 b (INR 2,439 Cr.) • Other Sources (VGF) : USD 0.24 b (INR 1,458 Cr.) • Total : USD 2.73 b (INR 16,375 Cr.) • FinancialClosure achieved in March 2011 • Revenue Model: 50% from Fare box; 45% from Property devpt; 5% Misc (Ads + Parking fee) • IRR • Project IRR : 13.89% • Equity IRR : 17.50%

  9. The Team (Authority, Concessionaire, Consultants etc.,) Authority : Hyderabad Metro Rail Limited (GoT) Concessionaire : L&TMRHL • Independent Engineer : Louis Berger, USA • Safety Consultant : Eptisa, Spain Concessionaire’s Engineer(CE) Programme Manager Lenders’ Engineer Independent Safety and RAM Assessor Consultants for Carbon Credits Lenders Insurance Consultant-Marsh India Pvt. Ltd. Operation & Maintenance Contractor 8

  10. Engineering, Procurement & Construction contractors 9

  11. Contact Information 10

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  14. N.V.S.Reddy Thank you

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