INDIA: The Rs23·56bn Mumbai Metro Line 1 project reached financial closure on October 3 after a consortium of banks sanctioned funds amounting to Rs11·94bn. Mmrda will provide a capital grant of Rs6·5bn while the remaining Rs5·12bn will be raised through equity.
With construction activity in full swing, Mumbai Metro One Private Limited - an SPV comprising Reliance Energy, Veolia Transport and Mmrda - has recently awarded the last of its major contracts. Track work has been awarded to VNC-Rail.One, whilst Thales has won the order for communications and Indra will supply an automatic fare collection system.
Chinese rolling stock manufacturer CSR Nanjing Puzhen Rolling Stock Co will provide the metro vehicles for the elevated 11·4 km line, connecting Versova, Andheri and Ghatkopar, which is due to open in July 2010.