Malaysian consortium ready to take up metro rail project

Malaysian consortium ready to take up metro rail project

The Hindu

Agrees to stick to route plan approved for the BMRTL project

BANGALORE: The Kencana Kasifa Transit Systems (KKTS)-led consortium from Malaysia has offered to take up the metro rail project on a Build, Own, Operate, Transfer (BOOT) basis. Metrail India, promoters of the monorail, also proposed on Friday that it can complement the metro alignment while catering to the IT corridor-ITPL and Electronics City.

Making a presentation before the media here on Friday, the KKTS Managing Director, Syed Saahil Saif, said: "We will fund up to 90 per cent of the project, estimated to cost Rs. 6,200 crores and will raise it from our own sources without any government guarantees. The government funding can be just 10 per cent of the total."

KKTS also proposed that it is willing to follow the alignment and route plans already approved for the BMRTL project.

"We have the experience of running two similar systems in Kuala Lumpur and can complete the project within the time limit and the costs already proposed by BMRTL." The expenses already borne by the Government could be converted into equity, Mr. Saif said.

Metrail India Director Rehman Khan said: "The mono rail system will complement the metro project and allow densely populated areas and the IT districts and other areas not covered by metro to be part of a mass rapid transit system. We believe a hybrid system comprising the mono and metro will allow the people of Bangalore have the best of both worlds. The city really needs a 500-km network to ease traffic congestion, and an integrated traffic solution as suggested by traffic experts has become necessary."

KKTS has sought two months to undertake a due-diligence study and submit a counter techno-financial report. This would enable the Government evaluate the proposal and take a decision. The Malaysian company said it is willing to work closely with BMRTL on all issues.