Colaba-Bandra corridor awaits Center’s nod to begin bidding process
A detailed proposal for in-principle approval to begin bidding process has been sent to the Department of Economic Affairs, Ministry of Finance
Mumbai, July 13, 2010 – The State Government has recently sent a detailed proposal to the Department of Economic Affairs, Ministry of Finance, Government of India, seeking in-principal approval to commence the bidding process for the Colaba-Bandra Metro corridor.
The proposal says that the 9,400-crore Colaba-Bandra metro corridor is a crucial infrastructure project for improving the traffic scenario in the island city, especially in the areas that are not served by rail-based transit. It is further contended that the project meets with all the guidelines laid down for Financial Support to public-private partnership except that the expected demand for viability gap funding would be more than 40% as prescribed. The demand for higher VGF is mainly because of the fact that almost 50% of the alignment is underground as there are several heritage sites and limited road widths in most of the island city.
However, the proposal also puts forward a few solutions so as to reduce the demand for viability gap funding. Firstly, it is proposed that the concession period be increased from 35 years – as in the case of Versova-Andheri-Ghatkopar and Charkop-Bandra-Mankhurd corridors – to 40 years. Secondly, it is highlighted that the techno-economic feasibility study has assessed the net present value of commercial development at the elevated stations at 630 crores and that the commercial development of the car shed area is also being examined.
The bidding process will be conducted as per the documents approved by the Empowered Committee for the Charkop-Bandra-Mankhurd corridor, albeit, with project specific modifications, says the proposal.
In the meanwhile, detailed project reports are being prepared for Charkop-Dahisar route (Phase II) and Andheri-E to Dahisar-E route (Phase III) by M/s.SPAN Consultants Pvt. Ltd.; Ghatkopar-Mulund route (Phase II) and Ghatkopar-Hutatma Chowk (Phase III) by M/s CES (I) Pvt. Ltd.; and BKC to Kanjurmarg via domestic and international Air ports with extension from BKC to Mahim route (Phase III) by M/s. RITES Ltd. The detailed project report for the Sewri-Prabhadevi Metro corridor has also been prepared.
While work on the first metro corridor – Versova-Andheri-Ghatkopar – is progressing at a very fast pace, the initial work on the Charkop-Bandra-Mankhurd – has also gained speed.