Metro Rail News Online

Mumbai:   The Reliance Infrastructure-led Mumbai Metro One Private Limited (MMOPL) has announced a promotional fare for children below the age of 12 years. The long-lasting decision over increasing of ticket fares of Versova-Andheri-Ghatkopar Metro-1 was stuck for almost four years now. Now children will be able to travel at a discounted price of Rs 5 for single journey during weekends. The existing fares are Rs 10, 20, 30, and 40. The children can become ambassadors for the Mumbai Metro services, and it is a special bonanza to mark the festive season, said metro operator. According to the announcement, a child below the age of 12 will be able to ride in the Metro - on Saturday and Sunday - at a discounted fare of just Rs 5. However, return journey will be charged Rs 10. In addition to this, children under 3 feet will be able to travel free of charge along with their parents. “We introduced this special fare for children on weekends so that they can experience the first Metr...

Mumbai: A joint venture of Reliance Infrastructure (RInfra) and Astaldi SPA awarded a contract worth Rs 1,584 crore by Mumbai Metropolitan Region Development Authority (MMRDA) for construction of North-South Metro Corridor of Mumbai Metro line-4. In an official statement Reliance Infrastructure said, “RInfra EPC has received the Letter of Award from Mumbai Metropolitan Region Development Authority (MMRDA) for three packages worth Rs 1,584 crore for construction of North-South Metro-4 corridor which will run between Kasarwadavali in Thane and Wadala.” “Reliance Infrastructure and Astaldi had jointly participated in the bid for engineering, procurement and construction (EPC) contracts for five packages. The scope of work includes part design and construction of elevated viaduct and stations (excluding architectural finishing and pre-engineered steel roof structure of stations) of Mumbai Metro Line – 4. This includes entry and exit structures of t...

Mumbai: A joint venture of Reliance Infrastructure (RInfra) and Astaldi SPA awarded a contract worth Rs 1,584 crore by Mumbai Metropolitan Region Development Authority (MMRDA) for construction of North-South Metro Corridor of Mumbai Metro line-4. In an official statement Reliance Infrastructure said, “RInfra EPC has received the Letter of Award from Mumbai Metropolitan Region Development Authority (MMRDA) for three packages worth Rs 1,584 crore for construction of North-South Metro-4 corridor which will run between Kasarwadavali in Thane and Wadala.” “Reliance Infrastructure and Astaldi had jointly participated in the bid for engineering, procurement and construction (EPC) contracts for five packages. The scope of work includes part design and construction of elevated viaduct and stations (excluding architectural finishing and pre-engineered steel roof structure of stations) of Mumbai Metro Line – 4. This includes entry and exit structures of t...

New Delhi: Delhi Airport Metro Express Private (DAMEPL) owner Anil Ambani led Reliance Infrastructure has moved the Delhi High Court seeking execution of the arbitration award of Rs 5,200 crore which had won against Delhi Metro Rail Corporation (DMRC) recently. “In its petition filed under section 36 of the Arbitration and Conciliation Act in the division bench headed by Chief Justice of Delhi HC, DAMEPL has sought an order for the execution of the award dated May 11, 2017 passed by the Arbitral Tribunal and direct DMRC to pay Rs 5,200 crore”, said in company statement issued on Tuesday. The claim includes the principal amount of Rs 2,945.54 crore along with interest as on date. The development comes after Delhi High Court on March 6, 2018, upheld the arbitration award as compensation along with interest to DAMEPL by a three-member arbitration tribunal. Reliance Infrastructure was awarded the compensation by the arbitration tribunal in a unanimous decision after 68 s...

New Delhi: Delhi Airport Metro Express Private (DAMEPL) owner Anil Ambani led Reliance Infrastructure has moved the Delhi High Court seeking execution of the arbitration award of Rs 5,200 crore which had won against Delhi Metro Rail Corporation (DMRC) recently. “In its petition filed under section 36 of the Arbitration and Conciliation Act in the division bench headed by Chief Justice of Delhi HC, DAMEPL has sought an order for the execution of the award dated May 11, 2017 passed by the Arbitral Tribunal and direct DMRC to pay Rs 5,200 crore”, said in company statement issued on Tuesday. The claim includes the principal amount of Rs 2,945.54 crore along with interest as on date. The development comes after Delhi High Court on March 6, 2018, upheld the arbitration award as compensation along with interest to DAMEPL by a three-member arbitration tribunal. Reliance Infrastructure was awarded the compensation by the arbitration tribunal in a unanimous decision after 68 s...

With the rate of the Tax on Goods and Services (GST) on the construction of the metro and the monorail going down to 12 percent from 18 percent, EPC (engineering-procurement-construction) contractors in space would benefit provided their contracts they will be tendered taking into account the fiscal component. Essentially, if the EPC contractor had submitted an offer for the metro or monorail construction contract on the base price without taxes, then the decrease in the GST slab would prove to be an advantage for the company since the overall cost would decrease. However, if the contract was tendered, including the tax component, the final cost would remain unchanged. According to experts, some of the contractors who were under stress due to higher costs would get some relief. “This is a positive step in many aspects for the industry, first, the Capex for projects will be reduced, and second, there will be a significant reduction in working capital, since less funds will be block...

Mumbai: Reliance Group chairman Anil Ambani today said Reliance Infrastructure is planning a rights issue for Reliance Naval & Engineering as the company increases its focus towards the defence vertical which is a sunshine sector in the country. Addressing the shareholders of RInfra at its... Click here to see more https://goo.gl/f3jw9C

Mumbai: Reliance Infrastructure (RInfra) has initiated a process to spin off a new unit, called Reliance Transport, to take care of its interests in railway, metro, airport and road projects even as the proposed listing of Infrastructure Investment Trust (InvIT) faces what the company calls “some procedural delays” after receiving the nod from the stock market regulator. Analysts say that the move is to generate positive investor sentiment. A Reliance Infrastructure spokesperson said, “RInfra InvIT is on track and will be launched shortly.” A senior RInfra official told DNA Money that four of its businesses such as roads, metro, airports and railways would be consolidated into a single strategic business unit. "We intend to go big in the transport space," said the source, without giving any details. At the moment, RInfra under the Reliance Airport Developers Pvt Ltd banner operates five brownfield airports in Maharashtra – at Nanded, Latur, Baramati, Yavatm...