IL and FS emerge as lowest bidders in Jacob Circle-Wadala Chembur monorail project

Apr 05, 2018, 09:00 IST | A Correspondent

It's official; IL & FS has emerged as the lowest bidder to run the Jacob Circle-Wadala Chembur monorail for a period of 10 years

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It's official. IL & FS has emerged as the lowest bidder to run the Jacob Circle-Wadala Chembur monorail for a period of 10 years. A senior official from MMRDA said, "The financial bids to run the Jacob Circle to Wadala-Chembur monorail corridor were opened on Wednesday and with a Rs 2,000 crore quote, IL & FS has emerged as the lowest bidder, as Reliance Infrastructure had quoted an amount of Rs 6,408 crore.

The new operator will take over from Scomi in next three to four months after which IL & FS will look after the operations and maintenance of the corridor for a period of 10 years." Four companies had participated in a pre-bid meeting including Reliance Infrastructure, IL & FS, BVQ and the Singapore-based SMRT.

Monorail inspection
A retired commissioner of railway safety concluded his three-day inspection of the monorail phase II between Wadala and Jacob circle last Wednesday evening. Sources told mid-day that he was satisfied with the monorail trial run, which also means that the monorail will get the final safety certificate soon. The monorail phase 1 and 2 are expected to be operational in April provided the procurement of spare parts is done by the operator.

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