A consortium led by Anil Ambani-promoted Reliance Energy has received the letter of intent (LoI) to develop the Rs 4,000-crore Airport Metro Express Line connecting Ajmeri Gate in central Delhi to the Indira Gandhi International (IGI) Airport.
Reliance Energy has roped in Spanish rolling stock company CAF for the project. The IGI airport is currently being developed by Delhi International Airport Limited (DIAL), a joint venture formed by a consortium led by the GM Rao promoted GMR Group and Airports Authority of India (AAI). GMR has agreed to pay 10% of the cost for building the metro link.
The concession agreement will be signed within 60 days from receipt of letter of acceptance of the LoI, which is for design, maintenance and operation of 22-km airport metro link. According to sources, passengers can check in at any of the stops on the designated metro link route, which is expected to be covered in 15 minutes.
“A person can reach Connaught Place and check-in their baggage, shop for a while, before getting on the train for the airport,” an official from DIAL said.
As per the LoI, the consortium will have to set up a special purpose vehicle for implementation of the project without any equity participation by Delhi Metro Rail Corporation (DMRC) or any other government agencies to enter into a concession agreement with DMRC. The project envisages development of India’s first airport link comparable to the other mega cities across the globe like in London and Hong Kong.
The total concession period is 30 years including a period of about two years for development of the project, which is planned to open for passenger service by July 2010. This has been planned keeping in view the ensuing Commonwealth Games in Delhi.