Mumabi: In order to cut the construction cost of the 32.5-km long underground Metro line between Colaba and Seepz, the Mumbai Metro Rail Corporation (MMRC) is considering to make design changes to cut cost of civil construction that has been shot up by around 50 per cent.
On November 19, dna had published a report on increase in civil component of the underground Metro line. The hike was realised after the bidders submitted their quotations for the civil work, which was way above the allocation done by Delhi Metro Rail Corporation’s estimates.
Out of the entire estimated project cost of Rs23,136 crore, the civil work itself was estimated to cost around Rs10,188 crore without taxes. However, with the financial bids opened, the civil construction cost has gone risen up to around Rs15,000 crore.
According to a source, the substantial variation in prices meant negotiations with the private bidders and eventually cutting down on various components that were earlier planned.
These snipping off may include reducing the length of platforms as well as reduction in entry/exit points for the stations. Sources mentioned that even after these changes, the project cost will be somewhere above the estimated cost of Rs10,188 crore, but the overall price will reduce to a great extent.
Each train will have six cars and having longer platforms means possibility of increasing carrying capacity in the future years by adding more coaches.
Bids were floated in September last year for design and construction of 27 Metro stations, and the schedule was to issue work orders by October-November. However, due to substantial differences in price meant more time to get into the contracts.
Japanese International Co-operation Agency (JICA) is partially funding the project to an extent of 57 per cent (Rs13,235 crore).
The amount of Rs23,136 crore was arrived at as per September 2011 valuation and regulations. However, several parameters have changed since. The valuation of Rupee to Dollar too has varied resulting in further increase in estimated cost. Earlier Metro projects were under deemed export category, but in 2015 incentives for Metro isn’t included in the same category as JICA has been removed from the list. Service tax too has increased from 10.
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3 per cent to 15 per cent now.