Kolkata, Nov 21 (UNI) Construction of the first stretch of monorail in Kolkata is expected to start in March next year with a city-based private firm getting contract for the Rs 1,200-crore project.
''We have got the contract to construct the first 20 km on a build-own-operate basis at an approximate cost of Rs 60 crore. Work is scheduled to start in March to connect Budge Budge to Taratala,'' Mr P C Sen, Chairman of Andromeda Construction, told reporters on the sidelines of a conference here.
Mr Sen said the state transport department and the public works department had already given the go ahead to the ambitious project to be completed in two years.
The second phase of the project envisages construction of a 52-km stretch from Taratala to Rajarhat.
Mr Sen said the expenses for the first phase would be raised with a debt-equity mix of 4:1 with the company looking for for foreign financial partners.
Andromeda, which is scheduled to source coaches from Germany, mulls to place orders with domestic wagon manufacturers like Titagarh Wagons and Jessop in future.
Partnering Andromeda, German company Fernmeldewerk Munchen Aubing would supply signalling equipment, while Derap AG and Helbling Technik, also of Germany, would provide the knowhow, Mr Sen said.
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