News / Financial advisor and bidders for Chennai Monorail

Financial advisor and bidders for Chennai Monorail

🕔 November 30, 2011

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In August, the Metropolitan Transport Corporation requested qualification documents from developers of national and international companies to design, develop, construct, finance, own, implement, complete, maintain and transfer (DBFOT) Monorail as Mass Rapid Transit System (MRTS) for Chennai metropolitan areas in selected corridors.The deadline for submission of RFQ for developers was 28th September 2011. Times of India has reported that thre are three consortia interested in the contract:

  • Laursen and Toubro - Hitachi
  • Alkem from Malaysia
  • UK firm
According to the newspaper, the three bidders, along with the consultant, will finalise the design and other engineering related issues before the project gets into the final bidding stage. "Over the next three to six months, the design aspects will be finalised and then it goes into financial bidding.
The Metropolitan Transport Corporation also released an invitation for proposals from leading consulting firms for providing Transaction Advisory Services for selecting a developer for "Providing Monorail Mass Rapid Transport System.
This week, we also got to know that Fortress Financial Service, a Mumbai-based company, will help MTC choose a suitable company to build the Rs 1,116-crore project as well as be the financial advisors.
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