A consortium led by ADA Group firm Reliance Energy has emerged as a preferred bidder for the Rs 2,500-crore project to construct a high-speed metro link to connect IGI Airport with New Delhi railway station.
According to sources, Delhi Metro Rail Corp (DMRC) has issued a letter to the consortium stating that it has been shortlisted as the preferred bidder for the project, which would be executed on a build operate and transfer basis.
When contacted, REL spokesperson declined to comment. DMRC spokesperson said: "The tendering process is still on. We do not want to comment."
Sources said that before the issuance of letter of acceptance, negotiations needed to be carried out between DMRC and REL-led consortium on various issues including appointment of project heads, setting up of two 66 kv sub-stations and emergency arrangements for power.
The utilisation of retail space and property development on depot land also needed to be deliberated upon, sources added.
Partners in the REL-led consortium include Spain's CAF. Reliance Energy scrip closed 2.73 per cent up at Rs 1,934 on the Bombay Stock Exchange on Thursday.
DMRC had invited bids from private companies for laying of the 23 km stretch with 5 stations on built-operate-transfer basis. Another consortium of Larsen & Toubro and GE Transport of US were also in the fray.
The IGI-New Delhi project -- expected to be commissioned by July 31, 2010 -- will be awarded to the qualified bidder for a 30-year period. The five stations will be located at New Delhi, Shivaji Stadium, Dhaula Kuan, NH-8 and the airport.
Reliance Energy is already executing a Rs 2,354-crore metro rail project in Mumbai for a 11.4 km long elevated track from Versova (Western Mumbai) to Ghatkopar (Eastern Mumbai) with 12 stations.