Global Tender of Monorail Project in 2 weeks
21 November 2013
Thiruvananthapuram
The Global Tender for Rs.5,581-crore monorail project of Kerala with less stringent norms will be launched in 2 weeks so as to select the developer-contractor for this project. The board meeting of Kerala Monorail Corporation Ltd. (KMCL), the Special Purpose Vehicle set up to execute the project in the two cities, chaired by Chief Minister Oommen Chandy here on Wednesday, gave clearance to the general consultant, Delhi Metro Rail Corporation (DMRC), to float the global tenders.
The KMCL board approved relaxation of norms to attract firms specialising in MRTS. As per revised norms, the rolling stock manufacturer need not be the lead partner, and instead should be a technical partner.
Vice-chairman of KMCL and Minister for Public Works V. K. Ebrahim Kunju said the clause that the company should mobilise funds for the project had been removed. This would pave way for domestic borrowing for the project.
Global tenders will be floated by treating the two projects as one as only a 36.4-km stretch will be covered in the first phase in both the cities.The board gave approval to SBI Capital Market Ltd. to appraise the project for preparing a roadmap to generate funds for the project.
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