JMRC wants to build phase II project under PPP model

JAIPUR: The Jaipur Metro Rail Corporation (JMRC) looks forward to receiving positive response from foreign companies to construct Jaipur Metro phase II, under public private partnership (PPP) after making a successful presentation.
JMRC, till date, has approached six foreign companies and negotiations are underway. JMRC chairman and managing director N C Goel said, "A technical team of The Construction Industry Development Board (CIDB) Malaysia is in the city for three days to learn the feasibility of the project.Earlier, a Malaysian delegation led by Secretary General Ministry of Works called Goel in June to discuss the possibilities of partnership."
An official said American firm Tony J Morris, CEO and president, Maglev Technology Inc, will visit JMRC on August 17.
After detailed deliberations, it was agreed with China Civil Engineering Construction Corporation (CCECC) will prepare the proposals for taking project under PPP model and will submit it to JMRC. Similarly, Korea Rail Network Authority (KRNA) has expressed strong interest in executing Phase II vide their letter dates July 24 , 2015 . "As per the request from embassy of Republic of Korea, a meeting was held between Korean delegation led by assistant minister MOLIT and JMRC officials in July . To take this forward the delegation will visit Jaipur between August 17 to 25," said an official.
In November, a three-member team of the Industrial Enterprise, Singapore, which gives nod to various international investments, visited Jaipur. JMRC officials claimed that as there are many similarities between the second phase of Jaipur Metro and Singapore Metro, the PPP will be a successful model.
A senior official said the estimate cost for phase II is Rs 10,000 crore. It has been proposed that the state government will provide 40% as viability gap funding to the awarded company. The remaining amount, which is 60 %, will be borne by the state government and the company.
Also, the operation and maintenance of phase I (B) will only be handed over after the firm completes phase II.