Kolkata-based Andromeda Technologies Private Limited (ATPL), is looking at introducing monorail in Kolkata within 2011, at an approximate investment of about Rs 1200 crore.
On the sidelines of an interactive session, organised by Confederation of Indian Industries (CII), P C Sen, chairman of Andromeda Private Limited said, "We are planning to introduce monorail in Kolkata from Taratalla to Budge Budge, a stretch of about 20 kilometres in the first phase, at an approximate investment of about Rs 1200 crore.
The project will be executed on built-own-operate (BOO) basis. We are hopeful to make the monorail system operational by 2011 and start construction work by March, 2009. The bidding was awarded by the government of West Bengal in the middle of last year."
The company is currently scouting for equity partners with equity constituting approximately Rs 200 crore of the total investment. Close to five foreign companies have shown interest in funding the debt component of the investment and the deal is expected to be finalised by the end of December and talks with a UK based company is almost finalised, Sen claimed.
The monorail is likely to have about 10 coaches with a capacity of 150 persons, travelling at close to 80 kilometre per hour.
The train will operate on modern hybrid technology, which is expected to be cost-effective and the machines are supposed to be run on fuel-efficient LPG gas.
The technical partners involved in this project are German-based Derap AG and Helbling Tecknik AG, while the signalling system is provided by Fernmeldewerk Munchen Aubing gmbh.
The coaches will be initially manufactured by German-based medium enterprise FTD and the coaches will be manufactured in India in the coming years for which ATPL has approached several companies like Titagargh Wagons, Jessops and Texmaco, since cost of importing coaches from Germany will be high, added Sen.
