[mpisgmedia] metroman

High bids stun MMRDA, may delay metro rail

Rajshri Mehta
Tuesday, January 17, 2006 00:50 IST


MUMBAI: The Reliance Energy-led consortium has emerged as the lowest bidder
to construct the city’s first metro rail project on an 11km stretch between
Versova and Ghatkopar.
When the financial bids were opened – after the deadline was extended twice
for 60 days – Reliance had put construction costs at Rs2,356 crore. The
second bidder, Infrastructure Leasing and Financial Services, quoted Rs3,406
crore.
In addition, Reliance and IL&FS want Rs1,251 crore and Rs1,296 crore,
respectively, as viability gap funding.
............
The VAG metro – the first to be implemented – is part of the 146km master
plan drawn up by Delhi Metro Rail Corporation after it was appointed
consultant.
The MMRDA will have 26 per cent stake in the project, which is to be
constructed through a public-private partnership. The remaining 74 per cent
will be invested by the bidders.

http://dnaindia.com/report.asp?NewsID=1007977



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