Mumbai Metro Line 2 contract terminated

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By LALATENDU MISHRA  http://www.thehindu.com/

A consortium led by Anil Ambani controlled Reliance Infrastructure (RInfra) and Maharashtra Government have mutually terminated the concession agreement for Mumbai Metro Line 2 connecting Charkop to Mankhud via Bandra.

A file picture of a trial run of Mumbai Metro.
A file picture of a trial run of Mumbai Metro.

RInfra said the termination was due to non-fulfilment of various obligations by the Maharashtra Government . The project, estimated at Rs.12,000 crore, was awarded to the Rinfra led consortium through an international competitive bidding in 2009. The termination comes a day after RInfra reported Rs.57 crore loss on account of Mumbai Metro One.

The project was to be implemented by Mumbai Metro Transport Private Ltd. (MMTPL) wherein RInfra holds 48 per cent of the equity. The concession agreement was executed on January 21, 2010, between the Maharashtra Government and the consortium.

 

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