RAPID METRO RAIL GUARGON

Rapid Metro Rail Gurgaon

Rapid MetroRail Gurgaon Limited is a metro system in the Indian city of Gurgaon, Haryana, linked with the Delhi Metro system’s Yellow Line at Sikandarpur. Built and operated by Rapid MetroRail Gurgaon Limited (RMGL), the system is India’s first fully privately financed metro.was built at a cost of nearly 11 billion (US$180 million) and construction was completed in 30 months. Originally planned to open in 2012, the first phase of the system opened on 14 November 2013.

The project was initially conceived as a collaborative venture between real estate developer DLF and Infrastructure Leasing & Financial Services, or IL&FS. But DLF, facing financial problems, pulled out and IL&FS became the sole owner. It is the only privately funded public metro anywhere in the world. The venture thus does not have any investment by the central government, Haryana or any other public sector undertaking. Rapid Metro did not even get the 20 acres of land which it needed for the project at any concessional rate from the state.

The metro system was the first in India to auction naming rights for its stations.

The line was originally tendered by the Haryana Urban Development Authority (HUDA) in 2007 as a point-to-point 3.2 km link between Sikanderpur and National Highway 8, but DLF wanted to expand it to provide connectivity to its Cyber City. A new tender was issued in July 2008, with the DLF-ILFS consortium emerging as the only bidder. Rapid Metro is the first fully privately financed metro system in India. The project is being implemented under the PPP mode. The entire cost of the project will be borne by the private party and the Haryana Government will provide right of way on lease hold basis. Under this model, the project cost will be borne by the private party and it will also maintain and operate the metro at its own cost. While HUDA initially objected to a private company making profit from public transport, an agreement was eventually reached for the consortium to pay HUDA 7.65 billion(US$127.8 million) over 35 years in “connectivity charges” as well as 5–10% of advertising and property development revenue.

The contract for the 9 billion (US$150.3 million) project was awarded in July 2009, with completion scheduled in 30 months’ time. The foundation stone was laid on 11 August 2009. The line will be built and operated by Rapid MetroRail Gurgaon Limited (RMGL), a consortium of real estate developer DLF and Infrastructure Leasing & Financial Services (IL&FS). DLF owns many properties near the stations while IL&FS is the majority stake holder in the JV. On 21 April 2010, Siemens announced that it had been awarded a turnkey contract to build the metro line, including five 3-car metro trains. The project cost 10.88 billion (US$181.7 million) as at Oct 2012.ILFS has 74% equity and DLF has the remaining 26%.