Chennai Metro signs three contract agreements for Phase-2 with RVNL for a combine value of INR 4058.20 Crores

September 14, 2023 Rail News

Chennai Metro Rail Limited signed three (03) contract agreements with Rail Vikas Nigam Limited for Tender No. UG03, UG04 and UG05 for a combined value of INR 4058.20 Crores.

More Details:

  • Chennai Metro Rail Limited signed the Contract Agreement for Contract No. C3-CP03-UG-03, C3-CP04-UG04 and C3-CP05-UG05 with M/s Rail Vikas Nigam Limited on 13/09/2203.
  • On 20/06/2023, Letter of Acceptance (LOA) for Three (03) tenders was issued to M/s Rail Vikas Nigam Limited for Tender No. CMRL/CON/PHASE-II/CORR3/CP03/UG03-RT01/2021 for a value INR 1730.60 Cr, Tender No. CMRL/CON/PHASEII/CORR-3/CP04/UG04-RT01/2021 for a value INR 1461.97 Cr and Tender No. CMRL/CON/PHASE-II/CORR-3/CP05/UG05-RT01/2021 for a value INR 865.63 Cr.
  • The Combined Value of all the three works is INR 4058.20 Crore. These Three (03) packages are funded by JICA under Loan Agreement No.ID-P272.
  • The scope of Three (03) packages involves the construction of 12 full Underground Metro stations and 4 Underground Metro station works other than diaphragm wall from Kilpauk Metro to Taramani.
  • The Contract Agreement is signed in presence of Mr. M.A. Siddique, I.A.S., Managing Director of CMRL by Mr. T. Archunan, IRSE – Director (Projects) on behalf of CMRL and Mr. Kamalakara Reddy- Chief Project Manager/Coordination/Chennai on behalf of M/s Rail Vikas Nigam Limited.
  • Mr. T. Livingstone Eliazer, Chief General Manager (PP&D), Tmt. Rekha Prakash, Chief General Manager (PD), Mr. Ravichandran -General Manager (UG), Mr. D. Gurunath Reddy, Additional General Manager (CP), Officials from CMRL, GC and Contractor were present during the Contract Agreement signing ceremony.

About Chennai Metro Phase-2:

  • Phase-2 expansion has been planned for a length of 118.9 Km network with 128 nos. of Stations. It consists of three Corridors i.e. Corridor -3 – From Madhavaram to SIPCOT (45.8 Km), Corridor -4 – From Lighthouse to Poonamallee Bypass (26.1 Km), Corridor-5- From Madhavaram to Sholinganallur (47 Km).
  • The estimated cost of the project is Rs. 63246/- Crore (Rupees Sixty three thousand two hundred and forty six only) (including IDC). The project is proposed to be completed by the end of 2026.

About RVNL:

  • The company began its operation in 2005 with the appointment of a Board of Directors.
  • The company was granted Miniratna status in September 2013.
  • RVNL has been rated “Excellent” for the 9 successive years by the Department of Public Enterprises.
  • RVNL has also been ranked 1st amongst the Railway PSEs for the 4 times out of the last 5 years.
  • The turnover of the company for the financial year 2019-20 has increased by 44.44%.
  • The authorised share capital of the company is Rs. 3000 cr. with paid up share capital of Rs. 2085 cr.
  • The company has been listed after its disinvestment of its stake of 12.16% of the company through IPO.

Source: CMRL- Press Release | Image Credit: CMRL