Maha Metro - on the Right Track
Dr. Brijesh Dixit, Managing Director - ?Maharashtra Metro Rail Corporation Ltdshare his perspective on the Pune as well as Nagpur Metro Project with Realty Plus
Nagpur Metro Rail Corporation Limited (NMRCL) was reconstituted as Maharashtra Metro Rail Corporation Limited (MAHA-METRO) for the implementation of all metro rail projects in the State of Maharashtra outside Mumbai Metropolitan Region. Presently, Maha Metro is executing Metro Rail Projects in the cities of Nagpur & Pune.The aim was to create an ecofriendly and energy efficient Metro Rail system of International standards which will enhance the quality of life of citizens of Nagpur and Pune and would be instrumental in the overall development of the cities.
To make Maha-Metro financially viable in the long run, the company aims to develop and exploit total area of 60 lakh sq. ft. at Nagpur for commercial (60%) & residential (40%) purposes. We will achieve over 50% revenue from non-fare box sources. This is an emerging global trend where metro companies are focusing on other means to generate revenue than only depending upon the fare box collections.
The special features of Nagpur Metro project
The station development of Pune will reflect the rich history, heritage, art, and culture of the city. The stations near industrial area will reflect industrial themes. Those near historical monuments will include their theme while, stations by the riverfront will have a reflection of that in such a way that they become the modern identity of the city. Rich musical heritage of the city will also be suitably included in the station design.
The finance strategy and revenue model for the projects
During the construction stage, within the funding plan, approved by Government of India (GoI), the project will be completed without any cost and time overrun. Maha Metro has taken number of cost cutting initiatives due to which the project will be completed within the sanctioned cost. During the operations, to keep the fare structure affordable to the common public, Maha Metro gives major thrust on non-fare box revenue. The other areas which have also been taken care of are:
Automatic Fare Collection (AFC) supply, installation, commissioning and maintenance has been awarded to SBI Lead Consortium, who will invest about 280 crores towards Capex and maintain the system for 10 years. The consortium has also to pay Rs 30 crore as royalty over a 10 year period.
Nagpur metro completion timelines
Nagpur Metro Rail Project consists of 38.215 Km elevated Metro Corridor which includes 40 stations and 2 train maintenance Depots, the Alignment is divided into two corridors i.e. North-South (19.658 Km) & East-West (18.557 Km). The estimated completion Cost is Rs. 8680 crores. The total physical progress achieved is 55% and the financial progress is 35%.
The route length of Pune Metro Rail Project is 31.25 km (26.23 km elevated & 5.02 km underground) divided into two corridors i.e from PimpriChinchwad Municipal Corporation (PCMC) to Swargate (16.59 Km) and from Vanaz to Ramwadi (14.66 km) with 30 stations and two Car Maintenance Depots. The approved completion cost is Rs. 11,420 crores. The total physical progress achieved is 12% and the financial progress is 08%.
Trial run of the very first section of 5.4 km of Nagpur Metro Rail Project was flagged of on 30th September 2017. The CMRS inspection will be done soon. The phase 1 of Nagpur Metro is expected to be completed by December 2019 with opening of 15 km by the end of 2018 and the remaining 23 km by the end of 2019. The Pune Metro project is expected to be completed by the end of 2021.
Tags : Interviews