New Delhi: To sort out issues related to the operation of the Airport Express Line and servicing its debt, the urban development ministry is preparing a proposal that will soon be placed before an empowered group of ministers (EGoM), which will take the final call on whether to look for a new operator.
“The EGoM will decide whether to go for a new concessionaire or not and who’ll take the burden of the debt,” a senior government official said.
A consortium of 11 banks, led by Axis Bank, has an exposure of almost R2,000 crore to the project. If the line is given to the Delhi Metro Rail Corporation (DMRC) for permanent operations, then it will be responsible for serving the debt.
“If the Express Line goes to DMRC then its promotors — the state government and the central government — will have to take the burden of the debt. The challenge before the ministry is how to make the Airport Express Line financially viable,” the official added.
19/07/13 Financial Express
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“The EGoM will decide whether to go for a new concessionaire or not and who’ll take the burden of the debt,” a senior government official said.
A consortium of 11 banks, led by Axis Bank, has an exposure of almost R2,000 crore to the project. If the line is given to the Delhi Metro Rail Corporation (DMRC) for permanent operations, then it will be responsible for serving the debt.
“If the Express Line goes to DMRC then its promotors — the state government and the central government — will have to take the burden of the debt. The challenge before the ministry is how to make the Airport Express Line financially viable,” the official added.
19/07/13 Financial Express
