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Reach 1 of Bangalore's Namma Metro has achieved break-even in the first six months of operations since the launch in October 2011.
According to Mr N. Sivasailam, Managing Director, Bangalore Metro Rail Corporation Ltd (BMRCL), the Reach 1 between Byappanahalli and M.G. Road, which has seen 20 per cent capacity utilisation, has been able to “break even fully”.
He said, “In a full line, we should be able to do a considerable part of our debt servicing even during the project time.”
Viable metro
If the current operations are any indication, “we will have a viable Metro,” he added. As of March 2012, BMRCL has made a surplus of Rs 5 lakh with Reach 1, said Mr Sivasailam.
On the impact of rupee depreciation on BMRCL's imports, he said that though some imports would be impacted, it wouldn't be much. “Our borrowings are in yen, and so the impact would be that much less,” he added.
Forex exposure
The forex exposure of BMRCL was 25 per cent of the total project cost at about Rs 2,500 crore.
About 50 per cent of that was dollar exposure, he said. “Any cost escalation due to currency fluctuation would be borne by government,” he added.
The northern reach of Bangalore's Namma Metro will be commissioned by December 2012, he said. The 12.4-km northern reach would connect Sampige Road with Nagasandra.
“We have no problems barring a small stretch in Malleshwaram — 66-metre line — for which clearance is awaited from Railways,” he said.
The track-making on the northern reach was already on, pointed out Mr Sivasailam. “The trial run would be done by end of this year,” he said.
On the other reaches, Mr Sivasailam said that work was over on the Jayanagar stretch, and the extension till Puttenahalli Cross was on, and would take 9-12 months. “Most of the work, except Majestic station, will be over by December 2013,” he added.
Majestic station
The work at the Majestic station would be done by “sometime in 2014”, he said. “Though the station will not be open, the idea is to take trains through Majestic but bypass the Majestic station,” he explained. The issue of temporary removal of the statue near Vidhana Soudha was yet to be resolved, said Mr Sivasailam.
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