Hyderabad sources stated that Telangana government has set up Special Purpose Vehicle (SPV) will be jointly promoted by the Hyderabad Metro Rail Limited (HMRL) and the Hyderabad Metropolitan Development Authority (HMDA), a state government order said.
Meanwhile the HMRL released a copy of the order to the media here "For immediate implementation of the airport express metro corridor from Biodiversity Park to the Shamshabad airport with extension of Corridor-III, Raidurg to Biodiversity Park (30.7km), and to develop townships near new metro stations en route the airport corridor, Managing Director (MD), HMRL, has submitted a proposal for creation of a SPV".
Presently the government has created the SPV
after consideration of the draft Memorandum and Articles of Association as
forwarded by the HMRL's MD, it said. Moreover the SPV has been named
"Hyderabad Airport Metro Limited (HAML)" and Chief Secretary S K
Joshi is its chairman and HMRL, MD, N V S Reddy its managing director. Further
HAML shall be incorporated with an authorized share capital of Rs 100 lakh,
divided into 10 lakh equity shares of Rs 10 each, and the HMRL had launched the
Phase-I of the project last year.
