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April 16, 2001
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Money > Business Headlines > Report April 16, 2001 |
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Reliance plans foray into Rs 54 bn MRTS projectRajesh Unnikrishnan The Reliance group is exploring the possibility of entering yet another new business. This time it's the urban mass rapid transport system. The group is currently working on the feasibility of the project and is in talks with the Konkan Railway for a technology tie-up. Konkan Railway is introducing the SkyBus metro railway project (an overhead railway system or monorail) a two-car, driver-less sky-bus that will run on electricity on an eight-metre-high elevated tract, running parallel to the highways and service roads in cities. The project is proposed to be introduced in Bombay, Bangalore and Hyderabad. Sources close to the development said that Reliance was keen on the Bombay project and is currently working on its viability. If it finalises plans for the foray, the investment proposal would be around Rs 54billion for the 120-km system. Senior Reliance officials, when contacted, declined to speak on the issue. Confirming the development, Konkan Railway officials, who are currently working with Reliance, said: "Reliance has shown interest in our newly-developed SkyBus metro railway project. The company is working on the detailed project report prepared by us and is looking at its viability." According to Konkan Railway officials, if the talks with Reliance materialise, it will provide the entire technical know-how while Reliance will implement and run the new mode of transportation. The officials said that the Konkan Railway has proposed the new project in three different locations in Bombay Andheri-Ghatkopar, Bandra-Kurla and Andheri-Charkop. The Maharashtra government has already given an in-principle clearance to the project. The project's estimated capital cost is Rs 450 million per kilometre. It can help 150,000-500,000 passengers travel per hour in one direction. In each city, around 2 million people depend on urban transport. Powered by YOU MAY ALSO WANT TO READ:
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