Chennai:
The Union government should set up a finance corporation for metro
rail projects akin to Indian Railway Finance Corporation to raise
capital and fund the projects, according to Metro Man E Sreedharan.
The former chief of Delhi Metro Rail Corporation (DMRC) told reporters
after delivering the IIT Madras , Civil Engineering Endowment lecture
that the Metro Rail Finance Corporation should be set up with a seed
capital of Rs 10,000 to Rs 20,000 crore and the corporation should
raise money behalf of the government.
He said currently 10 Metro Rail projects are currently being taken up
across the country which would require investment of around Rs two
lakh crore. Besides 10 more projects are ready to be taken up and this
would require additional investment of Rs two thousand crore.
He said the public private partnership model in metro rail won’t work
and many players have burnt their fingers. The government should look
for innovative way of funding the project by forming Metro Rail
Finance Corporation.
He said that 42 cities in India which have a population of more than
one million are eligible for metro rail project and this woud require
a massive investment.
He said that to boost the ridership the government should work on
mechanisms to make it cheap. He also suggested disincentives in every
state to use the vehicle to the minimum besides hiking the
registration fee for private vehicles so that people prefer public
transport.
He also suggested the need to have adequate manpower to construct
metro rail project in Indian cities. IITs are starting courses on
metro rail, he said.
He also said that monorail is not an ideal source of transport within
a city. “The operation maintenance is 50 per cent more than a metro.
The Mumbai monorail is not upto the global standard,” he said.
On the delay in completing the metro rail project, Sreedharan said
that land acquisition delay can’t be an excuse. “Although it is a
major detterent but we have to tackle it. Land acquisition is very
difficult in Kerala but we did it and the Kochi Metro will be built in
three years time and the commercial run will be started in 2016.
He also said the amendment t land acquisition bill will expedite all
infrastructure projects, including the metro projects.
During the lecture, Sreedharan highlighted his stints in Kolkata
Metro, Konkan Railway Corporation and Delhi Metro Rail Corporation
besides his role in restoration of Pamban bridge after the cyclone in
1964.
He urged the IITians to infuse punctuality, integrity, professional
knowledge as well social responsibility in their work culture
The Union government should set up a finance corporation for metro
rail projects akin to Indian Railway Finance Corporation to raise
capital and fund the projects, according to Metro Man E Sreedharan.
The former chief of Delhi Metro Rail Corporation (DMRC) told reporters
after delivering the IIT Madras , Civil Engineering Endowment lecture
that the Metro Rail Finance Corporation should be set up with a seed
capital of Rs 10,000 to Rs 20,000 crore and the corporation should
raise money behalf of the government.
He said currently 10 Metro Rail projects are currently being taken up
across the country which would require investment of around Rs two
lakh crore. Besides 10 more projects are ready to be taken up and this
would require additional investment of Rs two thousand crore.
He said the public private partnership model in metro rail won’t work
and many players have burnt their fingers. The government should look
for innovative way of funding the project by forming Metro Rail
Finance Corporation.
He said that 42 cities in India which have a population of more than
one million are eligible for metro rail project and this woud require
a massive investment.
He said that to boost the ridership the government should work on
mechanisms to make it cheap. He also suggested disincentives in every
state to use the vehicle to the minimum besides hiking the
registration fee for private vehicles so that people prefer public
transport.
He also suggested the need to have adequate manpower to construct
metro rail project in Indian cities. IITs are starting courses on
metro rail, he said.
He also said that monorail is not an ideal source of transport within
a city. “The operation maintenance is 50 per cent more than a metro.
The Mumbai monorail is not upto the global standard,” he said.
On the delay in completing the metro rail project, Sreedharan said
that land acquisition delay can’t be an excuse. “Although it is a
major detterent but we have to tackle it. Land acquisition is very
difficult in Kerala but we did it and the Kochi Metro will be built in
three years time and the commercial run will be started in 2016.
He also said the amendment t land acquisition bill will expedite all
infrastructure projects, including the metro projects.
During the lecture, Sreedharan highlighted his stints in Kolkata
Metro, Konkan Railway Corporation and Delhi Metro Rail Corporation
besides his role in restoration of Pamban bridge after the cyclone in
1964.
He urged the IITians to infuse punctuality, integrity, professional
knowledge as well social responsibility in their work culture
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