more-inFive infrastructure companies — Adani Enterprises, Tata’s TRIL Urban Transport, Shapoorji Pallonji and Company, Essel Infraprojects and IL&FS Rail — have evinced interest in developing the Visakhapatnam Metro Rail project in the public-private partnership mode. “ Participation of such reputed companies in the bid is a clear indication that the PPP model adopted by the government is a viable one for the project and it will succeed,” Mr. Narayana maintained. It would take another five months for the UMTC to select a suitable developer for the project. The rail project, worth ₹8,800 crore, is initially designed with three corridors of 42.5 km length. Under the PPP, the government proposed to fund civil infrastructure expenditure and the private developer is expected to develop non-civil infrastructure, operate and maintain for 35 years.

Source: The Hindu February 27, 2018 19:07 UTC