Monday, July 30, 2012

Delhi Airport Express Service - Stopped

 

 

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While Reliance Infrastructure blames DMRC for the defects, sources in the state-run company claim running the airport line has not been profitable for Reliance and it is preparing the ground to exit the project.

A DMRC official, on condition of anonymity, says that Reliance has not been able to meet its initial revenue projections.

In fact, a letter written in April by Reliance to DMRC to defer the annual concession fee of Rs 51 crore says: "The company has been working towards meeting its business projections but is facing tremendous limitations that are beyond its control."

Reliance was aiming to generate 75 per cent of revenue from areas such as retail, property development, advertising and other commercial activities, and 25 per cent from fare collections. But the letter notes that efforts to raise revenue from non-fare sources have not yet succeeded.

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I wanted to put this up earlier. It just slipped my mind.

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