The Hyderabad Metro Rail (HMR), with an initial paid up capital of Rs 100 crore, will be taking shape along the lines of Delhi Metro Rail Corporation (DMRC). The corporation, a Special purpose vehicle (SPV), will build an Elevated Metro Rail worth over Rs 7,000 crore, across the city. It will take help from the DMRC and four senior officials will be send on deputation to HMR for a period of five years.

With five new directors appointed to the board, the company is in the process of being registered. HMR will have its headquarters at Saifabad. Next month, the Centre’s Empowered Institution (EI) is expected to examine the project proposals submitted by different bidders.

The project will be carried out in a Build-Operate-Transfer (BOT) basis, with about 20 per cent of the funds coming from the Centre as grants. The process of registration, signing the MoU and articles of association will be completed in the next two weeks. On the other hand, the EI is expected to scan through the project proposals in the first week of May.

If the EI clears the Rs 8,482-crore project, the Centre will sanction a substantial portion of the grant (20 per cent). The corporation will then invite technical bids from the bidders.

The plan envisages three lines for the Metro system. Line 1 will stretch from Miyapur to L B Nagar, Line 2 from Jubilee bus station in Secunderabad to Falaknuma in the old city, and Line 3 from Habsiguda to Madhapur, which is close to Hi-TeC city.