Bihar State Urban Devp Dept to hold Global Investors’ Meet on Patna Metro on Jan 28

पटना Patna (PNBE): State urban development and housing department is going to hold a global investors’ meet on the proposed Patna Metro rail project on January 28.

The idea is to rope in firm(s) to join hands with the state government and contribute, financially and technically, to the project. Invites have been sent to 18 leading firms including L&T, Delhi Metro Rail Corporation and ILFS.

“The meet has been organised to hold one-to-one interaction between firms and state government. We want to create a positive environment and assure investors their interests would be considered,” said a senior department official.

A meet in February 2012 saw participation of 22 firms, including San Francisco-based URS Scott Wilson India Private Limited and Finland-based TUB and Louis Berger Group. Many companies evinced interest but the process froze after then principal secretary Shashi Shekhar Sharma’s transfer.

In June 2013, Indian Railways agency Rail India Technical and Economic Service (RITES) was tasked to prepare the project’s feasibility and detailed project report (DPR). It submitted DPR on October 30. The report narrowed down Patna metro rail network to two corridors covering 31km in the first phase. The first corridor (east to west) would run from Mithapur Bus Stand to Saguna Mor (14.5km) via Bailey Road and Patna Junction. The second one is a north-south corridor from Patna Junction to proposed bus stand at Bairiya (16.5km) on the Patna-Gaya Road via Ashok Rajpath, Gandhi Maidan and Rajendra Nagar Terminal. The DPR got an in-principle nod at a meet chief secretary Anjani Kumar Singh chaired in November.

Setting aside public-private partnership (PPP) mode, entailing an estimated outlay of Rs 14,000 crore, it was decided to form a special purpose vehicle (SPV) called Patna Metro Rail Corporation. The Centre and state would contribute 20 per cent each. The state government would approach international financial agencies like Japan International Cooperation Agency (JICA), World Bank or Asian Development Bank for the remaining 60 per cent. Sources said JICA was likely to be approached.