12.7.12

CST - Panvel hi-speed rail corridor snippets

The financial consultant for the CST-Panvel hi-speed railway corridor has suggested that the minimum and maximum fares should be Rs 10 and Rs 50, respectively, for a single journey.
Pricewaterhouse Coopers (PwC), the consultant, has also recommended commercial exploitation of space at the proposed stations to partially fund and operate the Rs.11,000-crore project aimed to establish hi-speed rail connectivity between south Mumbai and the proposed Navi Mumbai international airport. Nearly 30% of the traffic on the existing corridor and 20% of road users are expected to shift to the new corridor.
An MRVC official said: “We expect 66% returns from fares on the basis of estimates that the system will carry 21,000 peak-hour, peak-direction passengersby 2019 and 39,000 by 2031.” Using the public-private partnership model, the project will be developed on design, build, finance, operate and transfer basis.
The private developer will have to bring in 60% of the funds to execute and operate the project. The state government and the railway ministry will have to contribute 10% each. Besides, there will be viability gap funding of 20%.
“To partially fund the project,the private entity may be allowed to make commercial exploitation of space above the stations. For this, the state government will have to sanction additional FSI,” the official said.
Besides, a small percentage of the earnings will come from non-fare sources such as pay-and-park, advertising and licence fees from stall operators. “These are only recommendations. The final decision will be taken after the Railway Board and the state government concur. We aim to submit a formal proposal to the Railway Board by August,” the MRVC official said.
The project, said officials, would be easier to execute than the elevated corridor on Western Railway. “On the CST-Panvel corridor, there are no major hurdles in the form of land acquisition or relief and rehabilitation of project-affected persons. Once work begins on the ground, the project can be executed in 4-5 years.”
MRVC aims to get all the clearances by 2014 so that work on the project can be completed by 2018.

TRACK TO FUTURE
PROJECT: CST-Panvel hi-speed rail corridor 

DEADLINE : 2019 
TRAVEL TIME : 45 minutes 
TRACK TYPE : Broad gauge 
RAKES : 9-car, air-conditioned
COACH CAPACITY : 300-350 persons 
SEATS : Latitudinal (like Delhi Metro) 
MAX SPEED : 110 kmph 
FREQUENCY OF SERVICES : 4.5-5 minutes; 14 services per hour
Stations: CST, Wadala, Kurla, Chembur, Mankhurd, Vashi, Nerul, Belapur, Kharghar, Panvel & Navi Mumbai airport
COST : Rs11,000 crore 

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