Mumbai’s only operational Metro corridor ‘Metro One’, built on public private partnership with Anil Ambani’s Reliance Infrastructure may be taken over by Mumbai Metropolitan Region Development Authority (MMRDA), according to sources.
The state has asked the agency to undertake due diligence before moving ahead with the plan. MMRDA has 26% stake in Mumbai Metro One Pvt Ltd (MMOPL), which runs the Metro, while Reliance Infrastructure holds 69%. It has operated the 12-km Versova-Andheri-Ghatkopar corridor since June 2014.
MMOPL has been bleeding ever since the project was commissioned. A source said, “The state government has asked MMRDA to come up with the terms and conditions and also ascertain the liabilities before the negotiations can begin or proposal discussed with MMOPL.” Confirming the plan to take over the ownership of the Metro, MMRDA officials said there have been some discussions, but talks are at “an initial stage”.