Home / Mumbai / Mumbai News / Article /
Eight years on, state yet to arrive at valuation of Mumbai Metro 1
Updated On: 03 May, 2022 07:49 AM IST | Mumbai | Ateeq Shaikh
Over a year after MMRDA roped in consultant, figure still remains elusive; amid dispute with Reliance Infrastructure-led operator for the Versova-Ghatkopar line, matter hinges on arbitration
Listen to this article :
MMOPL claims to be losing R90 lakh a day. File pic
Amid the state’s efforts to wrest complete control of the operations of the city’s first Metro corridor between Ghatkopar and Versova and the operator’s attempt to get rid of its holding citing massive losses, the matter is stuck in limbo over the project’s valuation. While the line came up eight years ago, Mumbai got two more Metro lines-2A and 7-only a month ago.
Of the several Metro projects coming up in the Mumbai Metropolitan Region (MMR), the Versova-Andheri-Ghatkopar line is the only such mass-transit system to be executed through a Public-Private Partnership (PPP) model by roping in the Anil Ambani-promoted Reliance Infrastructure. The company wants to offload its stake claiming that it has been making losses of Rs 90 lakh a day, pre-COVID.
Read Next Story
Trending Stories
Latest Photos
Latest Videos
Latest Web Stories
ADVERTISEMENT
Mid-Day Fast
ADVERTISEMENT
ADVERTISEMENT