Urban News

Source : The Business Line Date : 01.06.2009

Second line of Mumbai Metro project cost to touch Rs 11,000 cr

Our Bureau

Kolkata, May 31 Reliance Infrastructure (R-Infra) expects the project cost of the second line of Mumbai Metro rail network to touch Rs 11,000 crore, up by more than 40 per cent over Rs 7,660 crore as estimated by the Mumbai Metropolitan Region Development Authority (MMRDA).

A consortium led by R-Infra has emerged as the single bidder for the 32-km-long project connecting Charkop in the west with Mankhurd in the east. The company is currently implementing the 12-km elevated stretch connecting Versova – Andheri – Ghatkopar.

R-Infra has bid for Rs 2,298 crore capital grant for the second Metro line. The maximum grant available is Rs 3,064 crore, which is 40 per cent of the MMRDA’s estimate of the project cost.

“We have sought government funding to the extent of 30 per cent of the original project cost. However, our estimates suggest that the actual project cost will far exceed the initial estimates and may touch Rs 11,000 crore,” a company spokesperson told Business Line.

Ruling out any negative impact of the higher project cost on the viability, the official said that according to company’s estimates the Charkop-Mankhurd section of the Metro is expected to witness a daily passenger traffic of 13 lakh in 2014. “This is slightly higher than the MMRDA passenger traffic estimates. Also we have taken into account the projected revenue flow from real estates and other sources,” he said.

According to the company, the work on Versova – Andheri – Ghatkopar Metro, progressing nearly 18 months ahead of schedule, will be completed in September 2010.

Sorurce : The Business Line Date : 27.02.2009

GHMC earmarks Rs 3,159 cr for this fiscal

Our Bureau

Hyderabad, Feb. 26 The budget of Greater Hyderabad Municipal Corporation (GHMC) for the year 2009-10 has been pegged at Rs 3,159 crore, an increase of 8.4 per cent over the 2008-09 financial year.

GHMC has pegged revenue income for next year at Rs 1,377 crore, while revenue expenditure has been estimated at Rs 999 crore and revenue surplus at Rs 378 crore.

Addressing a press conference here on Thursday, Mr S.P. Singh, Commissioner, GHMC, and Special Officer & Ex-Officio Principal Secretary to Government, Municipal Administration & Urban Development Department, said, “Out of the Rs 2,160 crore earmarked for capital expenditure, Rs 630 crore has been allotted to provide housing for the poor, Rs 362.82 crore for multi-model transport system, bus rapid system, traffic signals and signage, Rs 525 crore for roads and payments among others, which include provisions for storm water drainage, buildings, land and land improvements, etc.”

He also said that 49 per cent of allocation has been earmarked for the weaker sections as against the Government norm of 40 per cent and 77 per cent of the Budget on development of infrastructure and maintenance. “The Budget allocations are aimed at making Hyderabad slum-free and for the overall development of poor people,” Mr Singh said.

PROPOSALS

The proposals for major projects include Rs 171 crore for road widening, Rs 180 crore for improvements of nalas (storm water drains), Rs 150 crore for Bus Rapid Transit System, Rs 200 crore for MMTS and Rs 15 crore for beautification of the Musi river.