Metro rail projects lag behind in Gujrat
Metro project in Gujarat continues to face delays. Initial discussions were started in the year 2005. While the state government has approved the project, it is learnt that the detailed project report (DPR) is yet to receive centre’s approval. The project is handled by a special purpose vehicle (SPV) Metrolink Express between Gandhinagar and Ahmedabad Company Limited (MEGA).
The DPR has been prepared with the help from Delhi Metro (DMRC). There has been shuffling of management in MEGA which has added to the delay in the commissioning of the project. Moreover, the new management has revised the estimated cost to Rs. 10,000 crores, down from Rs, 19,000 that were originally estimated.
After the exit of former bureaucrat Sanjay Gupta in October 2013, Manjula Subramaniam has been appointed as chairman and senior IAS officer I P Gautam as vice chairman of MEGA, along with another IAS officer Vijay Nehra as its chief executive officer.
It is also learnt that MEGA will come up with various new route alignments soon. MEGA will conduct fresh surveys, with DMRC’s help to determine most economical and feasible routes.
A disbursed tranche of funding worth Rs 600 crore has been returned to a consortium of banks by MEGA. A consortium of banks had sanctioned a debt funding of over Rs 3000 crore for MEGA.
Sources: Business Standard
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