Delay pushes Metro cost up Rs 2,000 crore

Two corridors are now expected to be completed by 2018-19, five years behind the original implementation plan

The delay by the Pune Municipal Corporation in approving the city's Metro has increased the estimated cost of the project by over Rs 2,000 crore.

The Delhi Metro Rail Corporation (DMRC), which had estimated the cost for two corridors of the Pune Metro at Rs 7,984 crore in 2009, has now revised the cost to Rs 10,183 crore. The minimum fare is now projected to be Rs 13, up from Rs 8 in the earlier estimate; the maximum, for travelling over 30 km, Rs 45 — up from Rs 27.

The two corridors are now expected to be completed by 2018-19, five years behind the original implementation plan. If the project begins in 2014-15, it would take until 2020-21 to be entirely complete. More delay could

lead to another revision of fare estimates.

The PMC standing committee approved the civic administration's proposal for the revised project cost Tuesday. "The proposal was unanimously approved. It will be forwarded to the state government for final approval," standing committee chairman Baburao Chandere said.

DMRC has identified fare box collections and incomes from property development, advertisement and parking as the sources of reveue for the metro.

The revised costs for corridors 1 (Pimpri-Chinchwad-Swargate) and 2 (Vanaz-Ramwadi) have been pegged at Rs 6,960 crore and Rs 3,223 crore respectively, up from Rs 5,391 crore and Rs 2,593 crore proposed by DMRC in 2009. The civic administration said the earlier estimate was based on the cost of construction material in 2009; the revised estimate is based on 2013 costs, and factors in an increase of 7.5 per cent per annum until the completion of the project.

According to the revised estimate, if work begins next year, corridor 2 is likely to be completed by March 2018, and corridor 1 a year later.

... contd.

ALSO READ

Real estate agent from Pune financed fake currency racket busted in Chandrapur: Cops

Barring election work, teachers exempted from all duties outside school

Fiance who rescued kidnapped girl from Dhule brothel arrested

Charas, brown sugar use high in IT, corporate sector: ANC