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First monorail may follow private-public partnershipmodel
This will happen in the third year after its commencement in March-April 2011.
Updated : Nov 16, 2010, 01:02 AM IST
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The ambitious monorail project of the Mumbai Metropolitan Region Development Authority (MMRDA) may go for a Private-Public Partnership (PPP) model, after the third year of its commencement.
The authority at present is constructing the project on a cash contract basis with Larson & Tubro and Scomi engineering being the consortium for the 21 km route.
“We expect the first stretch of monorail between Chembur and Wadala to be ready by March-April next year. The operations for a period of the first three years will be the responsibility of the consortium. However, after the third year, we may invite tenders for a longer period, approximately 30 to 35 years,” said MMRDA metropolitan commissioner Ratnakar Gaikwad.
Initially, for the first ever monorail in the country connecting Chembur and Jacob Circle via Wadala, they were in talks with officials of the Brihanmumbai Electric Supply and Transport (BEST) but it did not work out.
The authority officials are expecting that the entire stretch of 20 km to be ready by December next year. Catering to15 to 18 lakh commuters on a daily basis, Gaikwad said that the authority will definitely get a good response from private players to run the trains. “If the authority gets back the project cost of approximately Rs3,000 crore upfront, there is nothing wrong in giving away the project for running to a private player. We will definitely invite tenders and get the best deal,” added Gaikwad.
He also did agree that the talks with the BEST have not been conclusive. “The government-owned companies can never have the financial strength to buy out projects such as the monorail. We will have to involve private players with better financial track record,” concluded Gaikwad.
