Though the Delhi Metro is determined to keep running the Airport Express service, it may take time to get complete hold of the project.Apart from arranging funds to pay up debts of Rs 2,000 crore, DMRC may face a tough time in taking over commercial properties which were created by the concessionaire along with the stretch. These properties have already been leased out to many companies by Delhi Airport Metro Express line (DAMPEl).
Sources in Metro said that there are 67 retail outlets being run by lessees at the Airport Express link and they are around 2,000 contractors. It was stated that as per the term of agreement between the DMRC and DAEMPl, it may be difficult to possess those commercial properties as of now, there are multiple contractors involved. “In that case the contract between concessionaire and DMRC needs to be changed, and it has to be approved by the Board of Directors (BOD),” said the source adding that to resolve this issue series of meetings are scheduled later next week.
A senior official of the DMRC said, “Even if DMRC take over operations of the much-hyped Airport Express Metro Corridor from July 1, it is still uncertain whether we could fully take over the project from next month onwards. Series of meetings with DAMEPl is scheduled next week on how to resolve the impasse of taking over the commercial projects.”
A month back, DAMPEl has signed an agreement with a private party to set up retail outlets at two of its stations, at New Delhi railway station and Shivaji Stadium. Both of these stations in the city centre are premium locations for retailers having value of crores. Estimated value of assets of DAMPEl which include operation value, maintenance and commercial properties is Rs 2,800 crore.
“Apart from this, around 50,000 square feet area which is meant for setting up retail commercial outlets are still lying vacant at six stations and it has still not been
decided whether this will be leased out to private parties or not,” he said.
A senior official of DMRC on condition of anonymity said that if the problem persists for long then we may also decide to partially take over the DAMPEl.
“Even at the Board meeting too, it was decided that preliminary they should take over the operation and management set up including the staff of DAMEPl for the time being. We have no problems in inducting around 200 employees of DAMEPl, as currently 8,000 employees are working at DMRC, added an official of DMRC.
Meanwhile, senior officials of the DMRC said that till now M/S Axis Banks, lenders Agent who was lending money for this project has not given a positive response yet whether they will lend money to DMRC for running the Airport Express line project. “Till now no banks have confirmed of lending such a huge money for immediate operational cost,” he added. The Centre too has refused to shell out to clear the debts of Airport Metro.
According to senior Union Urban Development Ministry officials, the DMRC has proposed that the debt should be repaid jointly by Centre and Delhi Government but the Ministry is of the opinion that the Centre should not be made to bear this burden since the contract is between DMRC and Delhi Airport Metro Express line (DAMPEl).