Yesterday, I had a meeting with CRISIL. They have been chosen, after a bidding process, to be the Transaction Advisor and Consultant to Hidco for doing a Monorail Project in New Town on a PPP basis. UMTC from Delhi was also there. UMTC had earlier done a pre-feasibility study on the possibility of a Monorail System in New Town to cover areas that are beyond 500 metres away from the Metro Rail corridor now under construction. The idea is that the huge passenger load brought in by the Metro Rail should be able to disperse from selected stations in New Town through a Monorail corridor, designed to have 16 kms of length in two parts of 9 km and 7 km. For making the project viable, VGF (Viability Gap Funding) would be required from Govt of India under its PPP framework.
We had an in-depth discussions with Mr Rohit Chaturvedi, Director CRISIL and Mr Saurabh Suneha Associate Director of CRISIL. They are based in Mumbai and Delhi. The Delhi office would co-ordinate with DEA, GoI, Planning Commission, MoUD and UMTC. And, of course, in Mumbai, there is already a monorail that is being built.