By Rachita Prasad , ET Bureau
After launching the Mumbai Metro’s first phase with a promotional fare of Rs 10 for its first month of operation, the project’s developer and operator Reliance Infrastructure officially announced on Monday that the fare has been set between Rs 10 andRs 40.
The fare is substantially higher than the Rs 9,Rs 11 and Rs 13 agreed upon by the developer in the concession agreements. Reliance Infrastructure’s announcement comes after Maharashtra Chief Minister Prithviraj Chavan said on Sunday that the fare structure will be decided through arbitration.
Mumbai Metropolitan Region Development Authority (MMRDA) said on Monday that it has filed arbitration petition before the Bombay High Court and made an application before Justice RD Dhanuka for urgent relief in the matter of fixation of Metro fares. More info