The Indian state of Andhra Pradesh has signed a 35-year concession agreement with L&T Hyderabad Metro Rail for the development of the Hyderabad Metro Rail project.
The project, a public-private partnership, will have a provision to extend the agreement for another 25 years.
The $2.59bn project will be funded by L&T, while the federal government will provide $312m.
The development will cover three traffic corridors in Hyderabad, where the estimated traffic demand is expected to be 1.5 million passengers a day in 2014 and 2.2 million passengers a day in 2024.
The project will include air-conditioned coaches, a modern signalling system, an automatic fare collection system and inter-modal integration with rail terminals and MMTS stations.
