The Delhi Metro Rail Corporation (DMRC) will be taking over IL&FS Transport Network Limited (ITNL) - owned Gurgaon Rapid Metro operations, the Business Standard reports.
The decision was made at a meeting held between the Haryana government and Delhi Metro’s Managing Director, Mangu Singh. According to the minutes of the meeting (MoM), the DMRC will take over the project for five years.
“From the start of the service on 5 February, operations of Rapid Metro will be taken over by DMRC. The services will be run according to the existing timetable and fare,” the MOM said.
According to a senior DMRC official, the DMRC will absorb the Rapid Metro staff, who will be paid per the current pay scale and position for coming three months. “Existing staff of Rapid Metro will be taken over on an “as is where is” basis and some of the staff will be permanently taken over by DMRC as temporary contract employees. A screening process of every department will be done to assess the requirement of staff,” the official said.
According to sources, the Ministry of Urban Development told the DMRC after ITNL’s parent company IL&FS Group declared bankruptcy after defaulting on loan repayments. The central government also took control of IL&FS’ management.
Earlier in 2013, the DMRC took over the Airport Express Metro after Reliance Infrastructure pulled out of the project citing the violation of concession agreement.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 999/year is the best way you can support our efforts.