As the country looks to create world-class infrastructure, Mass Rapid Transit System is being developed across Indian metros to provide a fast, easy and comfortable commute through high-speed trains. Reliance Infrastructure has partnered with MMRDA in Mumbai to successfully implement a world-class mass rapid transport system for the city of Mumbai.
Versova-Andheri-Ghatkopar Corridor Mass Rapid Transit System (MRTS) project was awarded by Mumbai Metropolitan Region Development Authority (MMRDA) through a global competitive bidding process on Public-Private-Partnership (PPP) framework to RInfra led consortium in 2007. This was the first metro project awarded in the country on a PPP basis and entails design, financing, construction, operation and maintenance of about 12 km elevated metro with 12 stations enroute.
A special purpose vehicle, namely, Mumbai Metro One Private Limited (MMOPL) has been incorporated for the implementation of the project. RInfra holds 69% of the equity share capital of MMOPL, while MMRDA holds 26% and remaining 5% is held by Veolia Transport RATP Asia. France through a separate joint venture company shall undertake operations & maintenance of the project for an initial period of 5 years.
The metro will provide the much needed east to west connectivity and will carry about 6 lakh commuters per day initially at very affordable fares. The biggest advantage would be the substantial reduction in travel time from the current 90 minutes to about 20 minutes along with much improved and comfortable traveling experience.
About Reliance Infrastructure
Reliance
Infrastructure is India’s fastest growing infrastructure company. It
ranks among the top listed private companies in this country on all
major financial parameters such as assets, sales, profits and market
capitalization. With a net worth of Rs. 11,907 crore (USD 2.35 billion),
Reliance Infrastructure is also one of India’s most valuable private
sector infrastructure companies.
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A part of the Reliance Group, Reliance Infrastructure distributes more than 36 billion units of electricity to over 30 million consumers across an area of over 1.24 lakh sq. kms. The company generates over 940 MW of electricity through its power stations located in Maharashtra, Andhra Pradesh, Kerala, Karnataka and Goa and has emerged as a leading player in the Engineering, Procurement and Construction (EPC) segment of the power sector in India. Continuing to draw inspiration from the vision of its legendary founder, Shri Dhirubhai Ambani, the company has, in the last few years, expanded its footprint well beyond power generation, transmission, distribution and trading business to other key infrastructure areas. The new business areas consist of highways, roads, bridges, metro rail and other mass rapid transit systems, special economic zones, real estate, etc. As its new business has grown, Reliance Infrastructure has made a conscious and concerted effort to align its people, processes and technological initiatives more closely with its new business strategy and focus.
Reliance
Infrastructure believes in setting new benchmarks in standards of
corporate performance and governance through the pursuit of operational
and financial excellence, responsible citizenship and profitable growth.
The company is realizing its vision not only through scale and size,
but also through the pursuit of excellence and the integrity of its
values and the quality of its services.
About Reliance Group
Reliance Group
currently has a market capitalization of around Rs 1,30,000 crore (US$
28 billion), net worth of around of Rs 84,000 crore (US$ 18 billion),
operating cash flow of over Rs 12,000 crore (US$ 3 billion), net profit
of over Rs 7,000 crore (US$ 2 billion) and zero net debt.
Across different
companies, the group has a customer base of over 100 million, the
largest in India, and a shareholder base of over 11 million, among the
largest in the world.
Through its
products and services, the Reliance Group touches the life of 1 out of 8
Indians every single day. It has a business presence that extends to
over 20000 towns and 4.5 lakhs villages in India, and 5 continents
across the world.
The interests of
the Group range from communications (Reliance Communications) and
financial services (Reliance Capital Ltd), to generation, transmission
and distribution of power (Reliance Energy), infrastructure and
entertainment.
About Veolia Group
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Mumbai Metropolitan Region Development Authority (MMRDA) was set up on the 26th January, 1975 under the Mumbai Metropolitan Region Development Authority Act, 1974 by the Government of Maharashtra as an apex body for planning and co-ordination of development activities in the Mumbai MetropolitanRegion comprising of Mumbai and its influence area. | |
Its activities are:
In particular, it conceives, promotes and monitors the key projects for developing new growth centres and bring about improvement in sectors like transport, housing, water supply and environment in the Region. MMRDA is the Nodal Agency for development of the Metro System in Greater Mumbai. It is also the Concessioning Authority for VAG Corridor, to provide Viability Gap funding to the SPV. |
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