Jaipur Metro|JMRC invites AMT Inc for Phase-II Metro Rail construction

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Jaipur: A four-member delegation from American Maglev Technology (AMT) has been invited by Jaipur Metro Rail Corporation (JMRC) to see the presentation and invest in the Phase-II Metro Rail project under public private partnership (PPP) model after receiving no response from other foreign countries.

JMRC project director, Ashwani Saxena, said, “The meeting with the delegation will also be attended by Ashok Jain, Additional Chief Secretary, UDH, and N.C.Goel, Chairman and Managing Director, JMRC. We are hopeful to receive a positive response from the American company.”

A senior official said the estimate cost for Phase-II is Rs 10,000 crore. It has been proposed that the state government will provide 40% as viability gap funding to the awarded company. The remaining amount, which is 60%, will be borne by the state government and the company.

Also, the operation and maintenance of Phase-I (B) will only be handed over after the firm completes phase II. JMRC, till date, has approached six foreign companies and negotiations are underway. An official said, “Recently, a technical team of Construction Industry Development Board (CIDB), Malaysia was in the city for three days to learn the feasibility of the project. Earlier, a Malaysian delegation led by secretary general, Ministry of Works called Goel in June to discuss the possibilities of partnership.”

After detailed deliberations, it was agreed that China Civil Engineering Construction Corporation (CCECC) will prepare the proposal for taking the project under PPP model and will submit it to JMRC. Similarly, Korea Rail Network Authority (KRNA) expressed strong interest in executing phase II vide their letter dates July 24, 2015. “As per the request from embassy of Republic of Korea, a meeting was held between Korean delegation led by assistant minister, Ministry of Land, Infrastructure & Transport, and JMRC officials in July. To take this forward the delegation will visit Jaipur.” said an official.

In November, a three-member team of the Industrial Enterprise, Singapore, which gave nod to various international investments, visited Jaipur. JMRC officials claimed that as there are many similarities between the second phase of Jaipur Metro and Singapore Metro, the PPP will be a successful model.

AMT, Inc. is a technology developer focused on innovating and commercializing novel intellectual property, chiefly focused on magnetics. The management team combines for more than thirty years of experience and US $10 billion in completed projects.

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