Metro to generate more benefits than cost
Within 10 years of its commissioning in 2018, the Chandigarh Metro is expected to generate economic benefits more than estimated cost of first phase of project worth Rs 10,900 crore.
As per the detailed project report (DPR), the Metro will lead to huge savings on various components, including fuel spent on personal vehicles, vehicle operating cost (VOC), their environmental impact, vehicles' accident cost, maintenance cost of traffic infrastructure and cost of time spent by residents in driving their personal vehicles.
As per the figures available in the project report, the time cost saved by Metro passengers is Rs 6,423 crore in nine years. With the implementation of the project, the consumption of petrol and diesel will also get reduced. The passengers are expected to save Rs 1,054 crore on fuel and Rs 1,282 on vehicle - bus, two-wheeler, car and three-wheeler - operating cost (VOC).
The Metro will also help save Rs 39.74 crore as accident cost of personal vehicles and Rs 164 crore as traffic infrastructure maintenance cost. Besides, in the first nine years, the Metro will help save Rs 117 crore on environmental impact of lakhs of personal vehicles, which would eventually be phased out by the Metro.
In the first phase, a 37.57km Metro network will be constructed at a cost of Rs 10,900 crore. The first phase will be operational by 2018 and will provide benefits of over Rs 11,000 crore by the year 2028.
These components have been quantified by linking it with the number of passengers shifting from road/rail mode of transportation to Metro. The total benefits have been calculated by subtracting the economic cost of the project - incurred for construction and maintenance - from the benefits of the project each year. The net benefit value, which would be negative during the initial years, becomes positive as years pass.
The cost of Metro construction is derived after considering the cost of all major components, such as relocation and rehabilitation (RR), civil construction for underground and elevated stations, depot track laying, signaling and telecommunication.