A consortium of DLF and IL&FS has bagged a contract from the Haryana Government for the construction of the metro system in Gurgaon.

The project called DLF MetroRail, Gurgaon has been bagged on concession by the consortium for a period of 99 years to build and operate the metro system at a cost of INR 900 crore.

A SPV is expected to be formed wherein DLF will have a 26% stake while IL&FS will hold the rest. The SPV is likely to raise INR 700 crore within the next six months.

The 6.1 kilometer metro link with standard gauge line is expected to be completed within the next 30 months. The metro route, having six stations, will connect the Delhi metro station at Sikandarpur and act as the feeder of the Central Secretariat-Gurgaon line of the DMRC.

(Sourced from Project Today)