No immediate fare rise for Mumbai metro, declares MMRDA

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By http://www.business-standard.com

The Mumbai Metropolitan Region Development Authority (MMRDA) has clarified the rise in costs of the 12-km Versova-Ghatkopar metro phase-I project and the threefold fare increase sought by Reliance Infrastructure’s arm Mumbai Metro One Private Ltd (MMOPL) were separate issues.

It added therefore, there was no question of a revision in fares as of now, when the first phase of the metro project was yet to be operational.

MMOPL is a joint venture between Reliance Infrastructure & MMRDA.

The project has missed the December deadline, as approvals from the railways are pending. MMRDA and MMOPL are yet to state the new deadline for the commencement of operations. The project cost has increased from Rs 2,356 crore to Rs 4,291 crore, largely due to delays in securing right of way (RoW), as well as various approvals from the Indian Railways. More info

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