"Request for Proposals (RFPs) of all major systems and procurement have already been floated and tenders related to civil construction are under finalisation process," an official at Metrolink Express for Gandhinagar and Ahmedabad (MEGA), a company formed to execute the project, said preferring anonymity.
"The first phase of the project will be completed in 2017 and the rest in 2021," he said.
MEGA is a state-formed special purpose vehicle (SPV) for the project execution, with an authorised capital of Rs 200 crore and initial paid-up capital of Rs 10 crore.
"This project will include around 64 kms of elevated corridor and 19 kms of underground. The elevated corridor construction work will be taken up first on priority," sources said.
However, the state proposed 50:50 joint venture project with Centre, currently awaits detailed project report (DPR) approval from the state government.
"The project DPRs are under consideration of the state government...And a decision is yet to be taken," Principal Secretary Urban Development G R Aloria said.
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