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REL preferred bidder for IGI-Delhi metro link

REL preferred bidder for IGI-Delhi metro link
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First Published: Thu, Dec 20 2007. 04 48 PM IST
Updated: Thu, Dec 20 2007. 04 48 PM IST
PTI
New Delhi: A consortium led by ADA Group firm Reliance Energy has emerged as a preferred bidder for the Rs2,500-crore project to construct a high-speed metro link to connect IGI Airport with New Delhi railway station.
According to sources, Delhi Metro Rail Corp. (DMRC) has issued a letter to the consortium stating it has been shortlisted as the preferred bidder for the project, which would be executed on a build operate and transfer basis.
When contacted, REL spokesperson declined to comment. A DMRC spokesperson said: “The tendering process is still on. We do not want to comment.”
Sources said before the issuance of the letter of acceptance, negotiations needed to be carried out between DMRC and the REL-led consortium on various issues including appointment of project heads, setting up of two 66kv sub-stations and emergency arrangements for power.
The utilization of retail space and property development on depot land also needed to be deliberated upon, the sources added. Partners in the REL-led consortium include Spain’s CAF.
The Reliance Energy scrip closed 2.73% up at Rs1,934 on the Bombay Stock Exchange on 20 December.
DMRC had invited bids from private companies for laying of the 23km stretch with five stations on built-operate-transfer basis. Another consortium of Larsen & Toubro and GE Transport of US was also in the fray.
The IGI-New Delhi project — expected to be commissioned by 31 July 2010 — will be awarded to the qualified bidder for a 30-year period. The five stations will be located at New Delhi, Shivaji Stadium, Dhaula Kuan, NH-8 and the airport.
Reliance Energy is already executing a Rs2,354-crore metro rail project in Mumbai for an 11.4km long elevated track from Versova (western Mumbai) to Ghatkopar (eastern Mumbai) with 12 stations.
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First Published: Thu, Dec 20 2007. 04 48 PM IST