Advertisement

HindustanTimes Fri,24 May 2013
RssFeed

Corporate News

Delhi Metro rejects Reliance Infrastructure's offer to quit
PTI
New Delhi, October 27, 2012
First Published: 15:06 IST(27/10/2012)
Last Updated: 15:10 IST(27/10/2012)
Share more.
 comments   
Delhi Metro on Saturday said it has rejected an offer by Reliance Infrastructure to quit the showcase Airport Metro Express citing financial non-viability and asserted that the corridor would soon be thrown open to public after due repairs are completed.

Delhi Metro managing
director Mangu Singh admitted that Reliance Infrastructure-led Delhi Airport Metro Express Private Limited (DAMEPL) had sent a notice for terminating the Concession Agreement signed between the two, thereby exiting the corridor.

"They (DAMEPL) sent the notice. But, we have rejected," Singh told reporters here.

"Repairs are almost complete. The Line will undergo a safety inspection and then will be opened," he said.

DAMEPL has been struggling to run the line ever since the operations were launched in February, 2011 and operations were suspended on July 8 after defects were found on civil structure.

Since then, the DMRC and DAMEPL have been at loggerheads over the corridor and a letter war between the two seems to have culminated with a communication from DAMEPL in early October that they want to terminate the Concession Agreement.

However, Delhi Metro rejected the offer and based on a suggestion from DAMEPL the issues will now head for arbitration.

It is learnt that the DAMEPL raised several issues rgerading the financial non-viability of the country's first Public-Private Partnership Metro project with the Delhi Metro and even sought for some restructuring of the model under which the corridor was being run.

DAMEPL refused to comment on the termination notice issue.

A spokesperson merely said: "The repair work executed by DMRC is nearing completion. We will recommence the operations of Airport Metro line soon after getting the necessary safety clearances. DAMEPL, as the Concessionaire will run the line."


Share more.
 comments   

comment Note: By posting your comments here you agree to the terms and conditions of www.hindustantimes.com
blog comments powered by Disqus

Advertisement
Advertisement

 
Advertisement
Copyright © 2013 HT Media Limited. All Rights Reserved