Reliance Infrastructure has exited the second phase of Mumbai metro project, which was in limbo for five years. This is Reliance Infrastructure's third exit from a mega project after the Delhi Airport Metro project and the Mumbai sea link extension project.
The company and the Maharashtra government have “mutually“ terminated the contract, Reliance Infrastructure said in a statement . The contract to build the second phase of Mumbai metro, which would have connected the localities of Charkop, Bandra and Mankhurd, was awarded to the Anil Ambaniled Reliance Group in 2009.
In 2012, Reliance Infrastructure, which built Mumbai's first Metro rail line, had exited from Mumbai's Haji Ali-Worli sea link after a dispute with the authorities.
In 2013, the company had withdrawn from the Delhi airport metro line, blaming the Delhi Metro authorities of failing to rectify faults, and had claimed payments. Reliance Infrastructure attributed the cancellation of the Mumbai Metro 2 to the Maharashtra government for not being able to fulfil some obligations as per the concession agreement between the two.“The government of Maharashtra and the concessionaire (Reliance Infrastructure) signed the termination agreement at `no cost and no claims' to either party ,“ Reliance Infrastructure said.The company also said the Maharashtra government would return its bank guarantee of Rs.160 crore. The government was unable to get the environment ministry's approval for land in Mankhurd and Charkop to set up depots, it could not ensure `right of way' and permission from the railways for the construction of the metro project.The project was virtually scrapped because of dispute between Reliance Infrastructure and MMRDA over delays and price escalation.
Reliance Infrastructure commissioned Mumbai's first metro rail, connecting the western suburbs Versova,Andheri and the eastern suburbs of Ghatkopar, in June this year after much delay.
The company and the Maharashtra government have “mutually“ terminated the contract, Reliance Infrastructure said in a statement . The contract to build the second phase of Mumbai metro, which would have connected the localities of Charkop, Bandra and Mankhurd, was awarded to the Anil Ambaniled Reliance Group in 2009.
In 2012, Reliance Infrastructure, which built Mumbai's first Metro rail line, had exited from Mumbai's Haji Ali-Worli sea link after a dispute with the authorities.
In 2013, the company had withdrawn from the Delhi airport metro line, blaming the Delhi Metro authorities of failing to rectify faults, and had claimed payments. Reliance Infrastructure attributed the cancellation of the Mumbai Metro 2 to the Maharashtra government for not being able to fulfil some obligations as per the concession agreement between the two.“The government of Maharashtra and the concessionaire (Reliance Infrastructure) signed the termination agreement at `no cost and no claims' to either party ,“ Reliance Infrastructure said.The company also said the Maharashtra government would return its bank guarantee of Rs.160 crore. The government was unable to get the environment ministry's approval for land in Mankhurd and Charkop to set up depots, it could not ensure `right of way' and permission from the railways for the construction of the metro project.The project was virtually scrapped because of dispute between Reliance Infrastructure and MMRDA over delays and price escalation.
Reliance Infrastructure commissioned Mumbai's first metro rail, connecting the western suburbs Versova,Andheri and the eastern suburbs of Ghatkopar, in June this year after much delay.
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