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    Mumbai Metro Rail Project

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    Shobhna Kanojia
    The document provides details about the Mumbai Metro Rail Project, which consists of three phases. Phase I is an 11.07 km elevated corridor with 12 stations from Versova to Ghatkopar. It aims to improve east-west connectivity and reduce travel time between the stations from 90 minutes to 21 minutes. The project was awarded through a PPP bidding process to a consortium led by Reliance Energy Limited, with the consortium agreeing to an equity IRR of 15%. The special purpose vehicle Mumbai Metro One Private Limited was incorporated in December 2006 to execute the project with a total project cost of INR 2356 crores and viability gap funding of INR 650 crores.

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    Mumbai Metro Rail Project

    Uploaded by

    Shobhna Kanojia
    115 views8 pages
    The document provides details about the Mumbai Metro Rail Project, which consists of three phases. Phase I is an 11.07 km elevated corridor with 12 stations from Versova to Ghatkopar. It aims to improve east-west connectivity and reduce travel time between the stations from 90 minutes to 21 minutes. The project was awarded through a PPP bidding process to a consortium led by Reliance Energy Limited, with the consortium agreeing to an equity IRR of 15%. The special purpose vehicle Mumbai Metro One Private Limited was incorporated in December 2006 to execute the project with a total project cost of INR 2356 crores and viability gap funding of INR 650 crores.

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    Metro Rail

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    The document provides details about the Mumbai Metro Rail Project, which consists of three phases. Phase I is an 11.07 km elevated corridor with 12 stations from Versova to Ghatkopar. It aims to improve east-west connectivity and reduce travel time between the stations from 90 minutes to 21 minutes. The project was awarded through a PPP bidding process to a consortium led by Reliance Energy Limited, with the consortium agreeing to an equity IRR of 15%. The special purpose vehicle Mumbai Metro One Private Limited was incorporated in December 2006 to execute the project with a total project cost of INR 2356 crores and viability gap funding of INR 650 crores.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    115 views8 pages

    Mumbai Metro Rail Project

    Uploaded by

    Shobhna Kanojia
    The document provides details about the Mumbai Metro Rail Project, which consists of three phases. Phase I is an 11.07 km elevated corridor with 12 stations from Versova to Ghatkopar. It aims to improve east-west connectivity and reduce travel time between the stations from 90 minutes to 21 minutes. The project was awarded through a PPP bidding process to a consortium led by Reliance Energy Limited, with the consortium agreeing to an equity IRR of 15%. The special purpose vehicle Mumbai Metro One Private Limited was incorporated in December 2006 to execute the project with a total project cost of INR 2356 crores and viability gap funding of INR 650 crores.

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    MUMBAI METRO RAIL PROJECT

    Present Transport Scenario in Mumbai


    11 million people travel daily by Public Transport (share of PT more than 90%) Many areas in city and suburbs are not served by rail system Suburban rail traffic increased by 6 times while the capacity increased by only 2.3 times 4500 passengers travel per train against the carrying capacity of 1750 resulting in unbearable overcrowding

    Project Description
    Consists of three phases Phase I, II, III Phase I Versova-Andheri-Ghatkopar line with dedicated elevated corridor and of length 11.07 km with 12 stations Rail to have maximum speed of 80kmph with average speed of 33kmph Project will provide East-West rail based connectivity to Central and Western suburbs Total time for journey from Versova to Ghatkopar would be approximately 21 minutes as against 90 minutes by other modes of transport

    Bidding Selection
    Detailed feasibility study carried out under the Indo-German technical co-operation to the group of TEWET, DE-Consult and TCS during 97-00 Study recommended mass transit corridor from Andheri to Ghatkopar as potentially bankable and economically viable Government decided to go on PPP basis Management of transaction process Consortium of Louis Berger as technical consultants, PwC, Masons and Economic Laws and Practices was appointed to assist MMRDA Bids invited in August 2004 and 150 bidders responded to Economic Opportunity Institute Bid process: Technical and financial stage

    Bidding selection contd..


    Technical bids invited in May 05, 2006 -HCC and RITES -Reliance Energy Limited, Veolia Transport, Connex-France -Shaktikumar Sacheti Limited and Lingakaran Metro -Siemens, L&T, Gammon, BEML -IL&FS, ITD Thailand and Unity Infraprojects -Financial bids invited from qualified bidders in January 06

    Bid Won by consortia of Reliance Energy Limited, Veolia Transport, Hong Kong MRT & Connex France

    Bidding selection contd..


    Expected IRR of 26% by REL-led consortium but government negotiated and the consortium agreed to an equity IRR of 15% Project faced delay in obtaining approval for VGF as its concession agreement was based on MCA of NHAI and only tentative guidelines were in place for PPP agreements Government gave special grant of 20% and GoM approved grant of 7.5% of project cost SPV incorporated in December 2006 by the name Mumbai Metro One Private Limited

    Financial Model
    Project Cost Viability Gap Funding Debt: Equity Total Equity MMRDA Equity (26%) Reliance Energy (69%) Connex - France (5%) Debt INR 2356 Crores INR 650 Crores 70:30 INR 513 Crores INR 134 Crores INR 353 Crores INR 26 Crores INR 1194 Crores

    PPP Structure Of Project

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