Mumbai: “Mumbai Metro Rail Corporation (MMRCL) will issue detailed tenders for Phase-3 Metro by July 2014 and award the contract to the successful bidder by October 2014. The construction for the ambitious project of 32.5 Km long Colaba-Bandra-SEEPZ underground metro corridor is likely to commence from January 2015.
“Pre-qualification bids for the first underground metro in the country’s financial capital have evoked good response from all the consortiums showing great interest in Mumbai’s first underground metro. Presently we feel that the detailed tenders can be issued by July 2014”, said Mr.Sanjay Sethi, Managing Director, MMRCL and Additional Metropolitan Commissioner, MMRDA. The MMRCL is also confident of awarding contract by October, 2014 for the project to be undertaken on Engineering, Procurement and Construction (EPC) basis.
“We have tied up the funding for this project from Japan International Co-operation Agency (JICA), Government of India and Government of Maharashtra through MMRDA”, said Mr.Sethi.
JICA will be funding 57% of the total project cost of Rs.23,136 crore. “The Government of India and Government of Maharashtra-through MMRDA will be bear the rest of the cost. The GoI will be provide 50% of Central Taxes as Sub-debt while the balance 50% shall be borne by the State Government. The GoM may also get a few exemptions from various local taxes – details of which are being worked out at present”, informed Mr. Sethi.
He further added that Rs.777 crore will also be borne by the Mumbai International Airport Ltd (MIAL), since the metro will pass through the MIAL areas.