Reliance Infra tells Bombay High Court it will not break even for two years even with Rs 10-Rs 40 fare

Jun 19 2014, 20:44 IST
Comments 0
The company will face a shortfall of Rs 113 crore to run the line in its first year of operations. Reuters The company will face a shortfall of Rs 113 crore to run the line in its first year of operations. Reuters
SummaryThe MMOPL and the Maharashtra govt are embroiled in a conflict over the fixation of initial fare.

year when the project was brought under the Union government's Metro Act from the Tramways Act. The Metro Act gives the flexibility to MMOPL being the Metro Rail Administrator to fix the initial fare.

Under the Act, a Central government-constituted Fare Fixation Committee will decide on any further fare revisions. However, the Bombay High Court has asked the parties to approach an arbitrator, and reserved its order for the next hearing scheduled for June 24.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...