MMRDA yet to hire agency to carry out Metro One’s performance review

The Mumbai Metropolitan Region Development Authority(MMRDA) is still unable to find an agency for Mumbai Metro One Pvt Ltd. that runs between Ghatkopar and Versova. This agency will provide financial quotes and market value of metro line one and carry out perfor mance reviews before the acquisition. Recently, the authority extended the extension of tender issued by another 15 days for hiring a consultant who will provide these services. The earlier issued tenders also received a similar dull response.

The Mumbai Metro one which started commercial operations in 2014 is looking to sell its equity and according to sources, it has already submitted a proposal to the state urban development department. Following this, the MMRDA has given its due consideration to its proposal. The Reliance Infrastructure Ltd (RIL) led Mumbai metro one, a special purpose vehicle (SPV) that was constituted to develop and run the 11.5-km Metro One on a public-private-partnership model. RIL owns 69 per cent stake in MMOPL, MMRDA owns 26 per cent and Transdev (for merly Veolia Transport) owns 5 per cent. The total cost of the project is Rs2,356 crore, which includes Rs 650 crore granted by the authority as a viability gap funding (VGF), of which Rs 471 crore was released by the gover nment of India between 2009 and 2014.