Agence Francaise de Development (AFD), the French development agency of the Government of France, has approved a loan of €110 million for the phase-1 of the Bangalore Metro Rail project.
The totally secretive organization called BMRCL has gone ahead taking a 800 crores loan from the French now!
WHy did they need it? Wasnt the loans given by the ADB enough?
Delays cost money and this is a very basic project management truth..and this phase I is actually full of it! So the govt lets them borrow more money for it now!
The same 800 crores if they had raised for commter rail..would have served a bigger croud of people much sooner..unfortunately the cartel has rejected it and thats sounded the doom for this city!
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Secrettive org called 'BMRCL'
Sri,
I liked your phrasing of BMRCL as 'totally secretive organization'. You have nailed the truth:
"...The same 800 crores if they had raised for commter rail..would have served a bigger croud of people much sooner..unfortunately the cartel has rejected it and thats sounded the doom for this city!.."
Any wants to put money on BMRCL bonds 500 Crore??? Sept 2014
Already INR 70.18Bn loans for BMRCL taken and Profitability : Net operating losses increased to INR 813.81m .
Read Page No 5 & 6 on funding pattern and cost escalation. Cost has escalated to Rs 14524 Crore as on June 2014.
http://bmrc.co.in/pdf/finance/bonds/Final%20rating%20rationale.pdf
How MBRC is covering its operating losses and other income for BMRC will it sustain over the period or its one time ???
Coming days will give more clarifity on the financial health of BMRC.
Whats the status of this Rs 500 Crore Bond subscription ???
MG Road Station has 25000 Sq Ft space, yet to rent out
June 2014 :
MG Road Station Block -A towards Parade ground has 15000 Sq Ft space and Block B towards earlier Plaza Theater has 10000 Sq Ft space. Page 7 of the below EOI.
http://bmrc.co.in/pdf/tenders/EOI.pdf
June 2014
Retail Space renting for Florist, Ice Crea Parlor, Books, Gifts and Novelties, Gift Shop and big retail center at halasur
Minium reserve price for these Rs 1.2 L per month
http://bmrc.co.in/pdf/tenders/BriefTenderDetails.pdf
Any idea whats happening on these commercial aspects Namma METRO
Aug 2014 : Indoor advertisement space for renting
Indoor Advertisement of 50,000 Sq Ft on reach -1 stations
Indoor Advertisement of 54,000 Sq Ft on reach -3 stations
Indoor Advertisement of 49,000 Sq Ft on reach -3B stations
Indoor Advertisement of 45,000 Sq Ft on reach -3A stations
Total of 2 Lakh Sq ft space for advertisement
http://bmrc.co.in/pdf/tenders/Advertising%20on%20inside%20Metro%20Station%20-%20%20Tender%20Notification.pdf
Sept'2014 :
News Paper Vending Machines Tenders ( monthly minimum income expected from 19 stations : Rs 4 Lakh )
http://bmrc.co.in/pdf/tenders/Tender%20for%20Exclusive%20Newpaper%20vending%20Machine.pdf
Oct 2014 : Tender for ATMs at 11 stations with each 2 ATMs reserved price of Rs 30000 per vending machine per month.
http://bmrc.co.in/pdf/tenders/atmr133a3b.pdf
This two commercial revenue itself runs more then Rs 25 L ( consider Rs 100 per Sq ft rental value ) + Rs 6.6 L. This comes minimum of Rs 40 - 50 L per month ( Annual Rs 5 to 6 Crore ) which will be big commercial revenue for BMRCL
Delhi METRO Fares fixed way back2009 & how is it different from
How is Delhi METRO and Calcutta METRO fares fixation different from indian Railway Suburban Rail ???
Delhi METRO minimum fares are Rs 8 /- , 10/-, 12/- , 15/- , 16/- , 18/- and 20/- further
Delhi METRO fares are close to Indian Railway fares which starts at
Rs 5/- and goes in step of Rs 5/- each to Rs 10/-, 15/-. and 20/- further.
Calcutta METRO fares are even worse and it may be lower then Indian Suburban Rail.
DMRC struggling to meet increasing cost with fares fixed 2009
DMRC seems to be coming under the same pressures as the railways: any increase in fares faces immense political opposition. Running its operations at fares fixed in 2009, the corporation is struggling to meet increasing cost. It has for years been pushing for a fare hike, which it says is essential for continued safe operations ..
http://economictimes.indiatimes.com/articleshow/48244906.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
DMRC seems to be coming under the same pressures as the railways: any increase in fares faces immense political opposition. Running its operations at fares fixed in 2009, the corporation is struggling to meet increasing cost. It has for years been pushing for a fare hike, which it says is essential for continued safe operations ..
http://economictimes.indiatimes.com/articleshow/48244906.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
DMRC seems to be coming under the same pressures as the railways: any increase in fares faces immense political opposition. Running its operations at fares fixed in 2009, the corporation is struggling to meet increasing cost. It has for years been pushing for a fare hike, which it says is essential for continued safe operations ..
http://economictimes.indiatimes.com/articleshow/48244906.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Here look at how Delhi METROs fares fate :
NEW DELHI: Delhi Metro Rail Corporation (DMRC), which operates the nation's showcase metro system, is in danger of going the Indian Railways way - into the red.
DMRC seems to be coming under the same pressures as the railways: any increase in fares faces immense political opposition. Running its operations at fares fixed in 2009, the corporation is struggling to meet increasing cost. It has for years been pushing for a fare hike, which it says is essential for continued safe operations and maintenance.
The ministry of urban development (MoUD) - the nodal ministry to deal with Delhi Metro matters - has yet to constitute a new Fare Fixation Committee (FFC) that is mandated to revise the fares. Instead of the existing 15 fare slabs ranging from Rs 8 to Rs 30, the corporation has proposed five, ranging from Rs 10 to Rs 50, which if implemented, would bring it 38% more revenue. DMRC has repeatedly reminded the ministry to constitute the Fourth FFC to consider the proposal.
The proposed fares in the five-slab system are Rs 10, Rs 20, Rs 30, Rs 40 and Rs 50. DMRC says the rounded figures will be of great help as there is a huge problem of coin availability and dispensing change to users. According to the corporation, it had taken up the coinshortage issue with the Reserve Bank of India at the highest level, but even the central bank said it could do little to improve the matters.
Starting from May 2012, the DMRC has been sending regular letters to the ministry reminding it about the urgent need to raise fares. ET has accessed the series of letters. The last one was written by DMRC chief Mangu Singh to MoUD Secretary Madhusudan Prasad on February 19, 2015, where he stated that the costs of all inputs - electricity, salary, wages and maintenance - required for operations and maintenance of metro rail had gone up considerably.
Electricity tariff has increased by more than 94% since fare was last fixed, the DMRC managing director wrote. He said since the DMRC structures are now 13 years old, they "need higher upkeep and maintenance". The delay in the constitution of the FFC, Singh added, is having an "adverse impact on the financial health of Delhi Metro".
A senior MoUD official confirmed DMRC's demand. "The matter should be resolved soon," the official told ET.
Government sources said E Sreedharan, the man behind the Delhi Metro, had tried his best to insulate the system from political interference and had even devised a formula for periodically increasing the fares.
http://economictimes.indi...
Already Bangalore METRO is running in losses and even Ph-1 cost has been revised upwards to Rs 13,845 Crore and still to complet by Mar'2016.
Bangalore METRO operations losses gone upto Rs 36 Crore removing depreciation cost during 2014-15 as compared to operational losses Rs 12 Crore during 2013-14.
Read the BMRCL balance sheet of 2014-15 :
http://bmrc.co.in/pdf/fin...
All this after contributing Petrol Cess and now Property cess.
Bengaluru needs no stinkin' Metro
As envisioned - Bengalurians dont like public transport. In spite of providing a comfortable, cheap and speedy METRO, there are no takers.
Therefore: huge loss
- Q.E.D.
Fares fixation Committee Report for Mumbai & interesting to read
8th July 2015, Mumbai METRO Fare fixation committee report for Mumbai Metro One Private Limited.
http://www.reliancemumbai...
Following few observations :
1. Interesting to see cost of Construction is maximum for Bangalore.
2. Jaipur METRO has complted its project well within time,
3. Delhi METRO has operational profit ( Excluding depreciation ) and major revenue other then ticket is more then 50% of ticket revenue. Shows how Public Transports should earn revnue other then ticket fares.
4. Bangalore METRO innovative way of Financing by GOK thru burdening citizens on all fronts, appreciated by even MOUD
5. Number of Passengers usage in Indian METRO urban transport. Mumbai has well ahead compared to Bangalore
I would like to see how each METRO is doing well in which fronts ???
Rapid MetroRail Gurgaon Ltd. interesting to see the patronage
With Flat fares of Rs 20/- connecting between NH-8 to Delhi Metro via Cyber City, Gurgaon. Commercial Operations commenced : 14th November 2013.
Length: 5.1 km
Train frequency: 4-5 minutes
http://www.rapidmetrogurg...
Now Indian cities having METRO urban Transport : Delhi, Calcutta, Bangalore, Mumbai, Chennai, Jaipur, NCRT Delhi.
gurgaon rapid taking huge loss
Aparently the revenue is less than quarter of the 4.5 crores ILFS spends on the gurgaon line, wonder what the issue is with the poor ridership..
One flat price for metro ticket is a fairly common practice world over..but may not work very well in India though, as we are more cost concious!
BMRC namma metro ridership for both the lines is abysmally low..around an average 25,000 ppl travel each day on these lines..and projected was about a lakh!
Wonder what happen when the whole thing opens..
MoUD to chalk-out Guidelines for deciding Metro fare
The Union Ministry of Urban Development (MoUD) has decided to come up with clear guidelines for the Fare Fixation Committee (FFC). It has set up a committee to decide the functioning and what factors would be considered while recommending fares.
Also, MoUD has sent a fresh list containing names of five retired judges for selection of chairman of Delhi Metro Fare Fixation Committee, after five earlier proposals were rejected by the Appointments Committee of Cabinet (ACC).
A fresh list has been sent to the Department of Personnel & Training (DoPT) for obtaining the approval of ACC, sources in the Urban Development Ministry said.
The list consists of names of Justice (retd) M L Mehta of Delhi High Court, and four retired judges of Allahabad HC – Justice Satish Chandra, Justice Virendra Vikram Singh, Justice Ashok Srivastava, and Justice Rajes Kumar.
After the rejection of earlier five panels, this time the Urban Development Ministry has sent the maximum names of five retired judges after procuring the list from the LawMinistry, the sources said.
The Appointments Committee of Cabinet, headed by Prime Minister Narendra Modi, had declined the last proposal with names of three retired judges in February 24 this year, with direction to bring a fresh list for selection of chairperson and two members of Fare Fixation Committee.
Names of an Additional Secretary of the Urban Development Ministry and the Principal Secretary (Finance/Vigilance) of Delhi Government have been suggested as the committee members.
The Ministry had sent the first panel with the name of one retired judge in December 18, 2012, which was declined in February 7, 2013. Another proposal was sent in March 21, 2013, and was rejected in April 26 that year. The third proposal was sent to DoPT in October 31, 2013 and rejected on December 11. The ACC rejected the fourth proposal on March 26, 2014.
Fares of Delhi Metro were last revised in 2009 when the minimum fare was raised from Rs 6 to Rs 8 and the maximum from Rs 22 to Rs 30.
Since then there has been a significant increase in input cost including 94 per cent rise in power tariff. In the past three years, Delhi Metro Rail Corporation has made several requests to the Urban Development Ministry for constitution of FFC for raising fares.
Delhi Metro can revise its fares only on recommendation of the three-member Fare Fixation Committee constituted by the central government from time to time.
http://www.railnews.co.in...
Still Committee to be set up for Fare fixation
Is it Maximum Governament
committee? why not? but..
I welcome this move, because there is a big disparity in ticket prices for metro all over the country..where Delhi users pay almost half of what we pay in Blr..and Kolkatta metro is even cheaper..
But pricing is a double edged sword..the cheaper the ticket becomes, some of the ill planned metro systems (like bangalore) will become financially very bad..
Wonder how they will implement this..or will it be like 'we give guidelines only'!
Finally MoUD decided to set up committee for DMRC
http://economictimes.indiatimes.com/articleshow/52503818.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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The Centre has notified a panel, headed by a former Delhi High Court judge, for revision of fares for Delhi Metro which will submit its report within three months.
http://economictimes.indi...
http://pib.nic.in/newsite...
Good Article on Business World on Bengaluru Traffic
http://businessworld.in/article/Governance-Snags-And-The-City/24-05-2016-98360/?platform=hootsuite
GoK wake up, E-W corridor facing crush load during peak hours already and BMRCL does not have rakes to increase frequency further to 3 minutes which they claimed they would.
Why not a BRT and Commuter Rail combo to tackle this? Media is talking high on Silkboard-KR Puram Metro which would take another 10 years to realize. Why not a BRTS?
When will south line open?
I am trying to find when the south line will open, that is going towards southend circle, etc. I am not getting proper answer. I am told that there is some issue reg Lalbagh. Can someone please throw some light on this?
South Line opening
NS underground works are still incomplete. Until then, the southern reach (reach-4) cannot be opened. My guess is that it may open some time in Oct-2017 after trials & approvals.
Krishna TBM is yet to drill
Krishna TBM is yet to drill about 160 mts on the green line path (connecting south end)..and its doing some 20 mts per week now..that makes it 8-10 weeks to complete..so..
So we ideally should have the green line completely open in about 9-10 months..that makes the whole PH1 ready by Ugadi next year (28th March)
I am quite sure of that date!
Hope they stick to it
Thx Naveen and Srinidhi. I spoke to Mr. Kharola last week at an event. He also reiterated the same, + or - one month of Nov.2016. Hope they stick to it. I am still puzzled abt Metro service starting from MG Rd location rather than other places like Peenya, Yeshawantpura, etc. where there would have more commuters using the rail. Anyway that’s past.