Business Daily from THE HINDU group of publications
Thursday, Feb 19, 2009
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Business Daily from THE HINDU group of publications Thursday, Feb 19, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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New Business Logistics - Railways Web Extras - Infrastructure Soma Enterprise bags Chennai Metro Rail order Our Bureau Chennai, Feb. 18 The Hyderabad-based Soma Enterprise Ltd has been awarded a Rs 199-crore contract in the Chennai Metro Rail Project, marking the start of the work on the project. According to Chennai Metro Rail officials, Soma Enterprise will set up a 4.5-km stretch of the elevated viaduct running along the 100-ft Inner Ring Road between Koyambedu and Ashok Nagar. The contract does not include the rail stations in this route, which would be tendered separately. The award of this contract marks the formal start of physical works on the Rs 14,600-crore project which is to be bid out in stages. The Tamil Nadu Chief Minister will soon lay the foundation stone for the project. The Centre gave the formal approval for the project on January 29 and work has started immediately, officials said. According to sources in the know, Soma Enterprise bagged the award in competition against infrastructure companies such as Gammon India, Simplex, L&T and a joint venture of Nagarjuna Construction and CCCL, a Chennai-based infrastructure company.
In line with the detailed project report compiled by the Delhi Metro Rail Corporation, one route will link Washermanpet in North Chennai, to Egmore, Teynampet and the Meenambakkam airport. A second route will link the Fort, with Anna Nagar, Vadapalani, Ashok Nagar, Alandur and St Thomas Mount. Of the total distance of 46.5 km on both the routes, over 20 km would be below the ground level and the rest on an elevated structure. The alignment, which forms a triangle linking three key areas – North Chennai, Thirumangalam to the west and Kathipara junction to the south through Poonamallee High Road, Inner Ring Road and Mount Road would be the first phase in the infrastructure project to alleviate traffic congestion. Of the total estimated cost, Japan is granting 60 per cent as Official Development Assistance. The loan agreement was signed on November 11, 2008 in Tokyo. The balance is shared equally between the State and Central Government which will each bring in 15 per cent as equity and 5 per cent as subordinate debt. More Stories on : New Business | Railways | Infrastructure
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