Hyderabad, April 8 (IANS) IL&FS Engineering and Construction Company Ltd Monday said it will construct integrated multilevel automated car parking facility at a cost of Rs.35.04 crore in the old city of Hyderabad.
The company has received a Letter of Intent (LoI) to construct the facility for Charminar Robo Park Limited, a special purpose vehicle formed by Futureage Consortium.
IL&FS was shortlisted as the preferred contractor for this lump sum turnkey (LSTK) contract, said a company statement here Monday.
The facility, said to be the first of its kind in Hyderabad, is coming up at Khilwat near Charminar in 14 months. Once completed, this facility can accommodate 440 cars and 250 scooters in a fully automated fashion.
This is a pioneering initiative taken by the Greater Hyderabad Municipal Corporation (GHMC) to decongest parking spaces.