Later speaking to mediapersons, Mr Saifullah said that the company will mobilise finances to set up the most sophisticated mass transport system. We do not require government finances nor do we need to acquire land to set up the system, he said.
Metrail managing director P C Sen said that the company proposes to build the 49-km rail network with 38 stations. The system also does not require grid power to run the train. They will run on solar power, batteries and hybrid generators, Mr Sen explained. It is cheaper than any other rail system in the world, he added.
According to him, the system will be operational within 18-24 months once the company enters into an agreement with the government. The system will initially transport about 20,000 pphpd (people per peak hour per direction), increase to 50,000 pphpd by the year 2045. The company proposes to undertake the project on a BOOT (build, own, operate and transfer) mode for a period of 40 years. The government has already appointed a committee of secretaries to evaluate the Metrail and metro rail systems and come out with a decision.
Recently, the Delhi Metro Rail company also made a presentation to the government with a similar investment plan and suggested utilising the funds earmarked in the Union Budget. According to government sources, the committee is expected to meet on March 23-24 for discussion and proposed to make a recommendation on March 25 to the chief minister. The final decision will be taken before the end of March, the sources said.