“Gujarat Metro Rail Project” project overview and the milestones planned v/s achieved capital Structure/mix advantages and disadvantages of each component. the social impact and environmental impact of the project.

1. N. R. Institute of Business Management (NRIBM-PGDM)
Project
On
“Gujarat Metro Rail Project”
Project Appraisal & Financing
Submitted to
Prof. Rajsee Joshi
Submitted by
Term V
Batch -2018-20
Sr No. Name Roll No.
1 Sachin Dubey P 1817
2 Jeena Patel P 1840
3 Vatsal Patel P 1846
4 Shail Rami P 1849

2. Gujarat Metro Rail Project overview:
Ahmedabad Metro is a rapid transit system for the cities
of Ahmedabad, Gandhinagar in Gujarat, India. It is being built by Gujarat Metro Rail
Corporation (GMRC) Limited (formerly Metro-Link Express for Gandhinagar and Ahmedabad
or MEGA), a Special Purpose Vehicle company constituted in 2018 to implement all metro
projects in Gujarat.
The company was established in February 2010 and the Phase–1 of the project was approved
in October 2014. Construction of Ahmedabad Metro started on 14 March 2015, and Phase-1 is
expected to be completed by 2022.
Milestones Plannedv/s achieved:
Dec 6, 2013: Dr. Manjula Subramaniam inaugurates the successful Go-Live of SAP ERP for
GMRC
Mar20, 2015: Gujarat Metro Rail Corporation (GMRC) Limited has been converted to Special
Purpose Vehicle (SPV) in which Central Government and Gujarat State Government are equal
partner.
Oct 5, 2015: GMRC has achieved an important milestone by signing a General Engineering
Consultancy (GEC) contract with SYSTRA S.A. led consortium for Ahmedabad Metro Rail
Project Phase-I. The contract signing ceremony was held in the GMRC office at Gandhinagar
and the contract was signed & exchanged between Shri I P Gautam, Managing Director of
GMRC Co. Ltd. and Shri Hari Somalraju, representative from SYSTRA, the lead member of
consortium. This consortium also includes RITES Limited from India, Oriental Consultants
Global Company Limited from Japan and AECOM Asia Company Limited from Hong Kong
as members of the consortium.
March 2019: “Hon’ble Prime Minister of India, Shri Narendra Modi dedicated Ahmedabad
Metro Rail Project Phase-1 to the Nation by inaugurating Metro Rail Services between Vastral
Gam Station to Apparel Park Station. “
“Hon’ble Prime Minister took a train ride between Vastral Gam Station to Nirant Cross Road
Station along with differently abled school children from Umang Deaf and Dumb School of
AMC, thereafter he laid the foundation stone for the Ahmedabad Metro Rail Project Phase – II
having two Metro Rail Corridors (from Motera to Mahatma Mandir via Akshardham and from

3. GNLU to Gift City) with combined length of 28.2 km, at an estimated project cost of Rs.
5384.17 Cr. The Phase – II is an extension of North South Corridor of Phase-I from APMC to
Motera.
Hon’ble Prime Minister was accompanied by Hon’ Governor, Hon’ble Chief Minister, Dy.
Chief Minister, Secretary of MoHUA, Government of India, Chief Secretary of Gujarat, Union
Minister of MoHUA, Mayor of Ahmedabad and Ambassador of Japan.
The regular services of Metro Rail have begun from 10 AM, 6th March 2019. Initially, the fare
structure is implemented to be minimum Rs. 5 for first 2.5 KM and Rs. 10 from 2.5 to 7.5 Kms.
As per this formula, the fare from Vastral Gam Station to Apparel Park Station will be Rs.10/-
July 2019: “Tunnelling from Kalupur launching shaft to Gheekanta Station has been completed
in the first week of July 2019. As on 10th July 2019, 1970 meters out of the total scope of 3300
meter (60%) of UG2 package tunnelling is completed by TBM from Kalupur Launching Shaft
to Gheekanta Station, Breakthrough for Both the TBMs are also completed.”
Capital structure of Gujarat Metro Rail Project:
Ahmedabad Metro: Information, Tenders, Route Maps and Project Updates
Ahmedabad Metro is a mass rapid transit system serving the twin cities Ahmedabad and
Gandhinagar in Gujarat, India.
 Project Name: Ahmedabad Metro Rail Project
 Operator: Gujarat Metro Rail Corporation Limited (GMRCL)
 Owner: Govt. of India and Govt. of Gujarat
Project Type: Mass Rapid Transit System (MRTS)
 No. of Phases: 2
 Project Cost: INR 16,157.17 Crore
 Status: Operational – March 4, 2019
 Completion Target: 2021 (Phase-I)
 Operational Network: Length – 6.5 km | Stations – 6

4. Ahmedabad Metro Rail Network:
Phase I (Project Cost: INR 10773.00 Crore)
Line 1 (East-West Corridor): Vastral Gam – Thaltej Gam
 Total length: 21.16 km
 No. of Stations: 17
 Operational Stations: Vastral Gam, Nirant Cross Road, Vastral, Rabari Colony,
Amraiwadi, Apparel Park.
 Under Construction Stations: Kankaria East, Kalupur Railway Station, Ghee Kanta,
Shahpur, Old High Court, Stadium, Commerce Six Road, Gujarat University, Gurukul
Road, Doordarshan Kendra, Thaltej Gam.
Line 2 (North-South Corridor): Motera Stadium – APMC
 Total length: 18.87 km
 No. of Stations: 15
 Proposed Stations: Motera Stadium, Sabarmati, AEC, Sabarmati Railway Station,
Ranip, Vadaj, Vijaynagar, Usmanpura, Old High Court, Gandhigram, Paldi, Shreyas,
Rajivnagar, Jivraj Park, APMC.
Funding
Name of Corridor
Distance (in
km)
Estimated completion cost
with central taxes & land cost
(INR Crore)
East-West Corridor (Thaltej Gam to
Vastral Gam)
20.536 6681
North-South Corridor (APMC to
Motera Stadium)
17.23 3994
Interest during construction (IDC) 98
Total 37.766 10773

5. Capital Structure of Gujarat Metro Rail Project
Equity of Govt. of India 1990 CR.
Equity of Govt. of Gujarat 1990 CR.
ODA/Loan (JICA) 6066 CR.
Subordinate Debt (SD) from GoG 727 CR.
Total Project Cost 10773 CR.
Phase II (Project Cost: INR 5384.17 Crore)
Line 2 Extension: Motera Stadium to Mahatma Mandir – 22.84 km
 Total length: 22.84 km
 No. of Stations: 20
 Proposed Stations: (Motera Stadium), Koteshwar Road, Vishwakarma College,
Tapovan Circle, Narmada Canal, Koba Circle, Juna Koba, Koba Gam, GNLU, Raysan,
Randesan, Dholakuva Circle, Infocity, Sector 1, Sector 10A, Sachivalaya, Akshardham,
Juna Sachivalaya, Sector 16, Sector 24, Mahatma Mandir.
Line 2 Extension: GNLU to GIFT City
 Total length: 5.416 km
 No. of Stations: 2
 Proposed Stations: PDPU, GIFT City
Construction Contracts:
 Major Contract Awarded
 Systra-RITES-Oriental-AECOM JV: General Consultancy
 Hyundai Rotem: Supply of 96 Rolling Stock coaches (32 train sets).
 Nippon Signal Co. Ltd, Japan: Supply of Signalling System
 URC Construction: Construction of Apparel Park depot
 Gannon Dunkerly-PSPO JV: Construction of Gyaspur depot
 J Kumar Infraprojects: Construction of 6 km viaduct between Vastral Gam-Apparel
Park
 DRA-CICO JV: Construction of 6 stations between Vastral Gam-Apparel Park
 Afcons Infrastructure: Construction of 2.45 km Tunnels & 2 Stations between East
Ramp-Kalupur

6.  Larsen & Toubro: Construction of 4.38 km Tunnels & 2 Stations between Kalupur-
West Ramp
 Tata Projects-CRCC JV: Construction of 8.21 km viaduct and 7 stations between
Thaltej Gam-West Ramp
 Simplex Infrastructure: Construction of 8.94 km viaduct and 6 stations between
Shreyas-Ranip
 Ranjit Buildcon: Construction of 4.85 km viaduct between Motera-Ranip
 Pratibha-Ranjit JV: Construction of 5 stations between Motera-Ranip
 Tata–CCECC JV: Construction of 8.21 km Viaduct, Sabarmati Bridge & 7 stations
between Thaltej Gam-West Ramp
 Siemens India-Siemens AG JV: Electrification
Environmental Impact of Gujarat Metro Rail Project:
The historic city of Ahmedabad is becoming the increasing opportunities for trade and
commerce and as a centre for higher education, the population of the city is already touching 6
million and this heavy growth continues. Being thickly populated area, Ahmedabad’s traffic
needs cannot be met by only road-based system. With projected increase in the population of
the city, strengthening and augmenting of transport infrastructure has assumed urgency. For
this purpose, provision of Rail-based Metro system in the city has been considered. Gujarat
Metro Rail Corporation (GMRC) Limited intends to implement Phase 1 of the Ahmedabad
Metro Rail Project with international/multilateral funding from lending agencies like JICA.
Phase 1 comprises of the revised North-South corridor from APMC to Motera along existing
railway line and the East-West corridor from Thaltej to Vastral. The East-West corridor
provides connectivity between residential areas in the western part of Ahmedabad and
Industrial areas in the eastern part and passes through old city and Ashram Road.
The objective of the study is to facilitate the Gujarat Metro Rail Corporation (GMRC) Limited
in preparation of EIA report as per the requirement of regulatory agencies and funding agency
JICA. The scope of EIA includes the impacts resulting from pre-construction, construction and
operation phases of E-W & N-S corridor, Depot and sub-stations. The EIA is based on detailed
field reconnaissance surveys, inventories and available secondary information.

7. SocialImpact of Gujarat Metro Rail Project:
As the construction of the first phase of the Rs 10,700-crore Ahmedabad Metro rail project gets
under way, the homes and commercial establishments belonging to 1,047 families in
Ahmedabad are expected to be affected. “The proposed Metro project requires land. The
acquisition of land for the project shall displace people from their home, livelihood base and
business base,” states the Social Impact Assessment (SIA) study undertaken by Metro-Link
Express for Gandhinagar and Ahmedabad Company Ltd (MEGA), a 50:50 Special Purpose
Vehicle (SPV) of the Government of India and the Government of Gujarat.
The SIA, prepared for MEGA by RITES Ltd (a Government of India enterprise), estimates that
3,597 members of these 1,047 families will be “affected” by the project which involves the
acquisition of 89.81 hectares. Of this, 84.65 hectares is government land and 5.16 hectares
private. A total of 1,047 properties will be affected, out of which 548 are residential, 351
commercial and 144 residential-cum-commercial. The remaining one is an industrial
establishment. About 36 additional structures that are likely to be affected include 11 religious
structures.
The SIA shows that majority of the Project-Affected Families (PAFs), about 783, reside on the
east-west corridor of the proposed Metro route, stretching from Thaltej to Vastral Gam, while
264 PAFs live on the north-south corridor (APMC-Motera).
On the east-west corridor, the highest number of PAFs reside at Apparel Park (248 properties),
Rabari Colony (123) and Vastral (100). These three metro stations fall in the six-kilometre
route for which work has already begun. Meanwhile, on the north-south corridor, the highest
number of PAFs are at Gyaspur Depot (56), Ranip (56) and Motera stadium (45). The SIA
shows that of the 1,047 PAFs, 64 per cent belong to either Scheduled Castes, Scheduled Tribes
or the OBC. The average family income of PAFs is little over Rs 9,900 per month and the
expenditure is about Rs 8,200. About 33 per cent of the total PAFs had monthly income that
were less than Rs 5,000, while only nine percent earn more than Rs 20,000.