THE SPECIAL Purpose Vehicle company to build and operate Line 1 of the planned Mumbai metro network under a 35-year BOT concession was officially incorporated on December 22.
Under the PPP agreement signed earlier this year (RG 7.06 p378), Mumbai Metro One Pvt Ltd is owned 74% by the Reliance Energy-Veolia Transport consortium and 26% by the Mumbai Metropolitan Region Development Authority. The concessionaire will appoint 12 members to the Mmopl board and Mmrda will provide three.
Having invited expressions of interest in October, Reliance has started shortlisting contractors for the Rs23bn project. Civil engineering work on the 11 km Versova - Andheri - Ghatkoper route is now expected to begin in March.
Meanwhile, Mmrda has shortlisted six bidders for an independent engineering consultant to oversee the project, approve the engineering designs and specifications, and act as arbitrator for any disputes between the various parties in the PPP.
