16.50 25.10 30.30 11.40 5.10 9.63 10.00 8.26 64.94 km 208.24 Overview Network Size and Growth At present, metro systems are operational in seven cities in India Bengaluru, Chennai, Delhi, Gurgaon, Jaipur, Kolkata and Mumbai with a running network of about km In addition, about km of monorail network is operational in Mumbai During the last decade (2006-16), more than km of network length was added to metro rail systems. The maximum network was added to Delhi Metro ( km), followed by Bangalore Metro ( km) Besides, in the last four years (2013-16), new metro rail systems, spanning a total length of over km, were operationalised in Gurgaon, Mumbai, Jaipur and Chennai Growth in Operational Rail-based Network in India (km) Overall Metro-wise 2016 308.0 250.00 2014 256.3 200.00 150.00 2011 221.7 100.00 2006 81.4 50.00 0.0 50.0 100.0 150.0 200.0 250.0 300.0 350.0 Source: Global Mass Transit Research Km - 2006 2016 Kolkata Metro Delhi Metro Bangalore Metro Mumbai Metro Gurgaon Metro Jaipur Metro Chennai Metro Mumbai Monorail 1
Overview New Project Uptake has Picked Up The urban rail sector has taken big strides in the past two and a half years (2014-2016) Mumbai, Jaipur and Chennai metro systems have commenced commercial operations. The first monorail system was operationalised in Mumbai. Small stretches on Delhi and Bangalore metro systems were also operationalised Over km of network length has been added by these projects The pace of new project uptake has also picked up. Between 2014-16 (till May 2016), a total of projects involving an investment of Rs trillion and network addition of about km have received Centre/state approval. The Lucknow Metro received cabinet approval, while Patna Metro, Guwahati Metro and Ranchi Monorail received state cabinet approval In all, metro lines are under implementation in cities. In addition, new cities plan to implement metro rail systems New LRT and monorail systems are being constructed in cities No. of projects: ( metro and monorail) No. of projects: ( - metro and monorail) No. of projects: ( - metro, monorail, LRT) No. of projects: (metro, monorail and LRT) No. of cities: No. of cities: No. of cities: No. of cities: Total operational length: ~ km Total network length: ~ km Total network length: ~ km Total network length: ~ km Total investment: Total investment: ~ Total investment requirement : ~ Total investment requirement : ~ Operational Under construction Centre/state approved In the planning stage 2
Rs billion Investment Needs and Requirements Overview As of May 2016, on the basis of projects tracked by Global Mass Transit Research, an investment of more than Rs trillion is expected in under-construction, approved and planned rail-based projects In the short term (by 2020), investments to the tune of Rs trillion will be required for the development of new rail-based systems and the extension of existing metro and monorail rail systems Between 2021-23, another Rs trillion will be required for the development of new and the extension of existing metro rail projects In the long term (post 2023), Rs trillion will be required for the development of new metro, monorail and LRT systems as well as extension of existing metro systems Short-term and Long-term Investment Projections for Rail-based Systems in India (Rs billion) % of the total investments will be required for the development of existing as well as new metro systems 3,500 3,000 2,500 2,000 1,500 1,000 500 0 212 1,678 1,318 45 20 % of the total investments will be required for the development of light rail (%) and monorail (%) systems 652 452 744 720 146 By 2020 Between 2021-23 Beyond 2023 22 Extension of operational metro systems New metro systems New LRT systems Extension of operational monorail systems New monorail systems Note: To avoid duplication of projects, the new phase of an operational/under-implementation project has been considered as a separate project. The short-term investment projections include only those projects that will be completed by 2020. Similarly, medium-term investments include only those projects that will be completed between 2021-23 3
Recent Developments List of Projects Approved Project Urban rail projects approved during October 2014 to May 2016 Length (km) Cost (Rs billion) Date of approval Approval accorded from Bhopal llrt December 2015 State government approved the project Chandigarh Metro January 2016 Delhi Metro Phase-IV February 2016 Greater Noida-IGI Airport Metro Rail Project Gurgaon-Manesar-Bawal Metro Rail Project Punjab and Haryana governments have approved the DPR of the project State government gave in-principle approval for the project August 2015 In-principle approval received from MoUD January 2016 State government gave in-principle approval for the project Guwahati Metro February 2016 DPR approved by state cabinet Kanpur Metro Phase-I March 2016 DPR approved by state cabinet Kochi Metro Phase-I B November 2015 Revised administrative approval received from state cabinet Noida Agra Monorail November 2014 State government approved the project Mumbai Metro Phase I Line 2A October 2015 Union government approved the project Patna Metro February 2016 State government approved the project Ranchi Monorail October 2015 State government approved the project Thiruvananthapuram LRT July 2015 DPR approved by the Union government Varanasi Metro April 2016 DPR approved by state cabinet Vijayawada (Amaravati) Metro Rail Project-Phase I Visakhapatnam Metro Rail Project-Phase I Source: Compiled from various sources by Global Mass Transit Research September 2015 Union government approved the project November 2015 Second DPR approved by state government 4
Rs billion Prospects for PPP Prospects for PPP Of the projects tracked by Global Mass Transit Research, urban rail projects (completed, ongoing and planned) are being or have been implemented on PPP mode Based on information available for PPP projects, equity contributions from private players amount to Rs billion and the debt stands at Rs billion. The remaining amount of Rs billion has been extended as VGF by the government These projects entail an investment of Rs billion PPP projects are financed through debt from financial institutions and commercial banks, equity contribution from private players, and grants from the union and state governments in the form of viability gap funding (VGF) The private developers so far have faced several issues such as land acquisition, over-estimated ridership, and cost and time overruns while undertaking projects in PPP mode Cost-wise PPP projects by stage of development % share of private and government funding Equity 18% Government funding 18% Debt 64% Note: Financial pattern available for five PPP projects (three operational and two ongoing Mumbai VAG corridor, Delhi Airport Express Line, Hyderabad Metro, and Gurgaon Phase I and II) 180.0 163.8 169.6 150.0 120.0 108.8 90.0 60.0 30.0 57.0 23.6 10.9 21.4 32.7 65.8 45.0 0.0 Delhi Airport Express Mumbai Metro VAG Line 1 Gurgaon Phase I Hyderabad Metro Gurgaon Phase II Patna Phase I Chennai Monorail Bengaluru LRT Jaipur Phase II Ranchi Monorail Source: Global Mass Transit Research Operational Ongoing Approved Announced 5
No. Rs billion Rolling Stock Size and Growth Rolling Stock As of May 2016, the current market size of rolling stock is coaches. In terms of value, the market is estimated at over Rs billion According to Global Mass Transit Research, the current market size of rolling stock is metro coaches, of which % are operational and for the remaining % contracts have been awarded. Of the coaches for which orders have been placed, have been recently awarded The market size has witnessed a massive jump of about % in the last 20-24 months due to uptake of a number of new projects in the country In value terms, the market is estimated at over Rs billion Market size in terms of value has increased from Rs billion in 2006 to Rs billion in 2016. As of May, 2016, of the rolling stock in terms of value is operational and for the remaining % of the orders have been placed, but the coaches are yet to be delivered Market size in terms of no. Market size in terms of value 3,500 3,000 2,500 2,000 1,800 CAGR 3,326 300 250 200 150 CAGR 241 1,500 1,000 CAGR 100 CAGR 72 500 260 50 30-2006 2014 2016 0 2006 2014 2016 Source: Global Mass Transit Research 6
Operational and Ongoing Projects Ahmedabad Metro Rail Project Key Details Parameters State Implementing agency/spv Total length (km) Project cost (Rs billion) Cost overrun (Rs million) No. of stations Mode of implementation Gujarat Elevated : Underground: Elevated: Underground: Details Key consultants DPR: ; Bid Process Coordinator and Corporate Advisor: ; General consultant: Rolling stock Signalling and communication system to be deployed Fare collection system Power demand (2018) Expected daily ridership (2018) Land requirement and acquisition Project status Expected completion 7
Operational and Ongoing Projects Ahmedabad Metro Funding Structure According to the price levels of March 2014, the cost for the completion of the project was estimated to be Rs billion In November 2015, the Department of Economic Affairs signed the loan agreement with Government of Japan for funds amounting to Rs billion (JPY billion) at an interest rate of per cent and repayment period of years, including years of grace period. This amount was to be provided by JICA on behalf of the Japanese government in the form of an ODA loan In February 2016, the state government allocated Rs billion for the project under the state budget In March 2016, the Centre allocated Rs billion for the project under Union Budget 2016-17. Also, JICA released the entire amount of ODA loan for the project Funding pattern Total project cost: Rs billion Market borrowings 17% Multilateral funding 43% Centre 20% State 20% Central government funding State government funding Multilateral agencies and other sources Rs billion Rs billion Rs billion Subordina te debt for taxes 29% Equity 71% Subordinate debt towards land 29% Subordinate debt for taxes 21% Equity 50% Market borrowings 23% JICA 77% 8
Ahmedabad Metro Key Players Operational and Ongoing Projects Company Scope Contract value (Rs million) Design and construction of elevated viaduct from Vastral Gam to Apparel Park including construction of viaduct for portion leading upto interface location of metro depot (East-West Corridor) in Khokhra Construction of elevated viaduct for APMC-Shreyas stretch and 4 stations viz. APMC, Jivraj, Rajivnagar and Shreyas Construction of 4.85-km viaduct corridor from Ranip to Motera Construction of six stations on Vastral Gam-Apparel Park stretch viz. Vastral Gam, Nirant Cross road, Vastral, Rabari Colony, Amraiwadi and Apparel Park Only civil contracts have been awarded so far for Ahmedabad Metro Note: For detailed information, refer data-set Source: Complied by Global Mass Transit Research 9
Ahmedabad Metro Tenders under Bidding Operational and Ongoing Projects Scope of work Date of invitation of tender Contract value (Rs million) Last date for bid submission Construction of metro train depot-cum-workshop at Apparel Park on East-West corridor Design, manufacture, supply, installation, testing and commissioning of 96 standard gauge cars and training of personnel Construction of five elevated stations (Motera, Sabarmati, AEC, Sabarmati railway station and Ranip) including viaduct portion within the stations and transition spans on either side of the stations in North-South corridor Construction of 8.94-km viaduct from Shreyas to Ranip and six elevated stations (Paldi, Gandhigram, Old High Court, Usmanpura, Vijaynagar and Vadaj) including an underpass at Paldi Design, manufacture, supply, installation, testing and commissioning of signalling and train control systems Design and construction of underground stations and tunnel in east Ramp-Kalupur-west Ramp section including 4 underground stations viz. Kankaria, Kalupur, Shahpur and Ghee Kanta Source: Complied by Global Mass Transit Research 10