Amaravati Metro Rail Corporation is entrusted to develop Vizag Metro Rail Project which entails an investment of ₹ 83,000 million. The corp is likely to invited RFQ bids from five agencies – viz Shapoorji Pallonji and Company, Essel Infra , Adani Enterprises, Tril Urban Transport and IL & FS.
It may be noted that, the state government has already approved the project to develop the metro rail transit system in three corridors with a length of 42.55 kms under public-private partnership.
The state government has also allotted 250 acres of government land in the vicinity of Metro for commercial development for loan repayment/debt servicing besides acquisition of 12 acres of private land. The State government has approved AMRC to raise the amount of ₹4,200 crore from external commercial borrowings or funding from foreign agencies or financial institutions at interest rates lower than that of Indian banks.
The detailed project report for the metro has been prepared by Delhi Metro Rail Corp Ltd.