MTC to improve 2 bus terminals thru private-public tie-up route

Metropolitan Transport Corporation Ltd (MTC), the State-run monopoly bus operator in Chennai Metropolitan area, will use the private-public-partnership (PPP) concept to develop two bus terminals/depots in the city.

The city's two most congested and major transport hubs – T. Nagar and Tiruvanmiyur – are to be improved at a total cost of Rs 100 crore. While there is no grant fund available under the Jawaharlal Nehru Urban Renewal Mission (JNNURM), the MTC will go for the under PPP model.

According to sources, Anna University has prepared a detailed project report for the two projects.

MTC plans to appoint a consultant to act as transaction advisor, including the bid process management for the project.

It has availed itself of technical assistance from Tamil Nadu Urban Infrastructure Financial Services Ltd (TNUIFSL) for appointing a transaction advisor.

MTC operates 2,554 schedule services in 499 routes with a fleet strength 2,773. It caters to the needs of nearly 40 lakh passengers every day.

The consultant should will prepare the project report consisting of financial report, plan and other documents such as project structuring for various options under the PPP mode; preparation of expression of interest and prepare RFP (request for proposals) and request for qualification and concession agreement,

The consultant will also assist MTC/TNUIFSL and the State Government in the bid process management until signing off the contracts with the qualified bidder/PPP operator for the above assignment.