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Project anagement The Delhi Metro Project Effective Project Management in the Indian Public Sector Eueryone who has truvehd by the Delhi Metro wants onc in his or her city. Tod.ay, there is a national resurgence in public interest in urban public transport.r - Dn Mannoh@n Singh, Prime Minister of India, in 2006. The successful implernentation of the Delhi Metro project would. not haue been possible without tirnely availability of fund.s and thc necessary political support. An equally important role has bem played by the DMRC's corporate culture, which emphasizes that tq,rgets are nloat sq.roaonct and our dignity is in performing our duty well.2 - E Sreed.haran, Managing Directon Delhi Metro Rail Corporation Ltd.' in 2005. ith a 6.5 km section of Line 3 becoming operational in April 2006, Phase I ofthe Delhi Metro3 project was nearing completion. Of the total length of 65.16 km of the first phase, 62 km had "PM Lays Foundation Stone for Bangalore Metro", wwrnpib.nic.in, June 24, 2006. "Interview with E Sreedharao, Managing Director, Delhi Metro Rail Corporation Ltd," $i,*,.indiainfoline.com, December 19, 2005. A metrc system is usually an urban electric mass transit railway system independent of other traffic and with high frequency. A metro system includes elevated, at-grade, and underground sections. @ 2006 The Icfai Center for Manag€ment Research (ICMR). All Rights Res€rved. For accessing and procuring the case study, log on to www.ecch.cranfreld.ac.uk or www.icmrindia.org

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Project anagement

The Delhi Metro ProjectEffective Project Management in theIndian Public Sector

Eueryone who has truvehd by the Delhi Metro wants onc in his or her city.Tod.ay, there is a national resurgence in public interest in urban publictransport.r

- Dn Mannoh@n Singh,Prime Minister of India, in 2006.

The successful implernentation of the Delhi Metro project would. not hauebeen possible without tirnely availability of fund.s and thc necessary politicalsupport. An equally important role has bem played by the DMRC's corporateculture, which emphasizes that tq,rgets are nloat sq.roaonct and our dignityis in performing our duty well.2

- E Sreed.haran,Managing Directon Delhi Metro Rail Corporation Ltd.' in 2005.

ith a 6.5 km section of Line 3 becoming operational in April2006, Phase I ofthe Delhi Metro3 project was nearing completion.Of the total length of 65.16 km of the first phase, 62 km had

"PM Lays Foundation Stone for Bangalore Metro", wwrnpib.nic.in, June 24, 2006.

"Interview with E Sreedharao, Managing Director, Delhi Metro Rail CorporationLtd," $i,*,.indiainfoline.com, December 19, 2005.

A metrc system is usually an urban electric mass transit railway system independentof other traffic and with high frequency. A metro system includes elevated,at-grade, and underground sections.

@ 2006 The Icfai Center for Manag€ment Research (ICMR). All Rights Res€rved. For accessing and procuring the case study,log on to www.ecch.cranfreld.ac.uk or www.icmrindia.org

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been completed and opened for service. This phase was set to costRs. 98 bn. As of early 2006, around 450,000 passengers were traveling by

the Delhi Metro everyday.

The Delhi Metro was meant to solve Delhi's traffrc problems, whichhad becone almost unmanageable. The Iirst steps to build a metm system

in the city were taken in the early 1990s. In 1995, the Government ofIndia (GoI) and the Government of the National Capital Teritory of Delhi(GNCTD) formed the Delhi Metro Rail Corporation Ltd. (DMRC) under

the Companies Act to construct the Delhi Metro. Conceived as a social

sector project, a significant portion of the project cost was funded through

a soft loan provided by the Japanese government through Japan BankInternational Corporation (JBIC).' The rest was contributed by GoI and

GNCTD through equity.

E Sreedharan (Sreedharan) was appointed ManagingDirector (MD) ofthe DMRC and Project Manager for Phase

I of the project in November 1997. Work on Line 1 of Phase

I started in October 1998. DMRC formed consortiums toadvise it on the project and to provide it with the latpsttechnolory. It also saw to it that the foreign companies

worked with the Indian companies to ensure that the latterassimilated their expertise and technological know-how.

The DMRC faced any number of technical and systenicchallenges during the construction of the metro. However,

thanks to thorough planning, an effective project design,

and a "we-mean business" culture, it was able to overcome

all these hurdles. The organizational culture was based

Thc first steps to build@ ,netro wstern in

Delhi uere tahen inthz early 1990s to

solae Delhi's traffieproblcrns, which had'

become alrnostunnl,an@geable

on punctuality, honesty, and a strict adherence to deadlines. The DMRC

successfully rnanaged the various stakeholders in the project like thegeneral public, government bodies, etc , and also ensured t'hat the project

was environmentally safe.

With Phase I of the Delhi Metro project nearing completion, the GoI

decided to extend the metro network and work on Phase fI of the Delhi

Metro project vtas set to commence in September 20O6' In the pmcess ofimplementing the project, the DMRC had gained a lot of technological

expertise, which would be used by other cities in India and abroad to buildmetro systems similar to the Delhi Metro.

Backgrolrnd Note

Metro systems were generally considered as a transport option when thepopulation of a city crossed the 1 million mark (Refer Drhibit I to know

more about metro transit systerns)' Delhi crossed that milestone as early

' JBrc r* f"t"d"d in 1961 by the Japanese govemmeEt as the Overseas Economic

Cooperation Fund (OECF). It served as the imPlementiog agency for loan aidgiven to eotities in developilg countries OECF generally gave low-interest (around

i.!qo), long-Letm funds (about 20 years with five-year grace period) In 1999,

OECF was merged with Export-Import Bank of Japan (JE)iIM) to form the JBIC'

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Exhibit I

The first meko system in the world was the London Underground which became operational in1863. Later, metro systems were established in Paris and Berlin. ln 1904, the New york CitvSubway was commissioned. Extending to 1,355 km, this went on to become the largest metrosystem in the world. ln the 206 Century, metro systems became common with new onescoming up in maior cities of the world.

Some Metro Systems around the WorldCountry City Name of System Year Opened Length (Kms)

England tondon London Underground 1863 408

France Paris Paris Metro 1900 221.6

U5A New York New York City Subway 1904 1355

Spain Madrid Madrid Metro 1 919 226.7

lapan Tokyo Tokyo Metro 19)7 183.3

Japan Osaka Osala Muniopal Subway I q3f 113.5

Russia i 935 274.3

Russia St. Pete6burg St. Petersburg Metro r955 109.5

5. Korea Seoul Seoul Metro 1963 287

Mexico Me^ico City Mexico City Metro '1969 177

HonS KonS Hong Kong Mass Transit Railway 1979 91

lndia Kolkata Kolkata Metro 1984 t6.45

Igvpt Cairo Cairo Metro 1947 43.5

Australia Sydney Metro Light Rail 1997 7.2

Thailand Bangkok Bangkok Metro 2004 21

Source: www.w il ipedi a.ory

as in the 1940s. The 1950s saw a doubling of the city's population; withthat, the vehicular traffrc also soared. By the early 1990s, Delhi had moreregistered vehicles than Mumbai, Kolkata, and Chennai put together Ithad become one of the most polluted cities in the world, with automobilescontributing to more than two-thirds of the total atmospher.ic pollution.There was an urgent need felt at this point to irnprove both the qualityand availability of mass transport services in Delhi.

The frrst ever traffic study of Delhi (titled the "Origin - DestinationSurvey of Traffic of Greater Delhi") was carried out by the Central RoadResearch Institute (CRRI) in 1957. As many as 35 more studies on Delhi'stransport problems were conducted subsequently by various entities (ReferExhibit II for some of these studies). Almost all these studies recommendedthe Mass Rapid Transit System (MRTS) as a means to solve Delhi's traJficproblems.

In 1989, the GNCTD, with support from the GoI, commissioned afeasibility study for developing an MRTS for Delhi. The study wasundertaken by Rail India Technical & Economic Services Ltd. (RITES)5and completed in 1991. RITES recommended a three-component transitsystem comprising rail corridors (surface/elevated), metro corridors5 RITES, established in 1974, is the multi-disciplinary consultancy wing of the Indian

Railways. RITES has serwed as a consultant to top organizations and governmentsin 55 countries. It largely operates in the fields of transpod, infrastructure, andrelated technologies.

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txhibit ll : Studies on Delhi's Traffic Problems

S-No. Sludy Organization

1 Transportation Study Central Road Research lnstitute,

New Delhi

'1969

2 Town and Country PlanningOreanization Study

Ministry of Urban Affairsand Employment

'1973

3 Metropolitan Transponation Team Ministry of Urban. Development 1974

4 Metropolitan Transpon Project Ministry of Railway 1975

5 Study Croup Planning Commission 1942

6 lndian Railway Study Croup lndian Railways r986

7 Ministry of Urban Deve'opment 1987

8 Planning of Mass Rapid TransportSystem for Delhi

Central Road Research lnstitute,New Delhi

1989

9 Mass Rapid Transport System for Delhi RITES 1990

S ou rce : www. del h i n et rctai L can

(underground), and a dedicated busway, totaling 198 5 km. This mix ofelevated and underground sections was proposed in order to bring down

the overall project cost.6

RITES further recommended sequential construction of the totalnetwork because of the high costs associated with the project. The complete

network was to have 16 lines. Sections with higher projected passenger

traJfic densities were to be constructed first

In 1995, RITES submitted a Detailed Project Report (DPR) for Phase Iof the Delhi Metro project.

The Delhi Metro Project

In order to implement the Delhi N{etro project. the GoI and the GNCTDset up a 50:50 joint venture companl'called the Delhi Metro Rail Corporation

Ltd. (DMRC). The company $'as incorporated under the Companies Actin May 1995. The DMRC was to complete Phase I of the project within 10

years, i.e., by the end of 2005. After the recommendations of various other

civic organizations had been incorporated, the proposal for Phase I of the

Delhi Metro project was approved b1'the GoI in September 1996.

Phase I was to connect Delhi's business, education, and shoppingdistricts. It was to cover about 340 hectares of Iand (of which about 58o/a

was government land, 397a was private agricultural land, and 3% was

private ur6an land) and involved the design and construction of threelines (with a total length of 56 km), 50 stations (of which 10 were

underground), and three maintenance depots (Refer Figure I and Table Ifor the plan for Phase I).

6 As of 2002,.the cost of building the underground section was estimated to be

Rs. 2.?0 bn per kilometer, while the cost of building an elevated section was

Rs. 1 bn per kilometer Underground sections requircd stdcter environmental contrcland fire safety systems. The operational cost ol maintaining underground sections

was also higher

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Figure l: Phase I of the Delhi Metro Project

Table l: Phase I of the Delhi Metro

Line Lengh of Line Roste

Line 1

Line 2

Line 3

22 kfil

llRm23 km

Shahdara to Rithala

Vishwa Vidyalaya to Central Secretatiat

Barakhamba to Dwaraka

sd re: w dclta imettuail.om

Funding the Project

Globally, most urban MRTS projects were financially unviable because

the fares could not be fixed solely on a commercial basis. If the fares were

fixed too high, the passenger numbers would remain low, thereby defeatingthe very purpose of setting up the system. Therefore, the concernedgovernments generally bore the capital costs of an MRTS system. In thecase of the Delhi Metro project too, the GoI and the GNCTD bore thecapital costs.

The total cost of the first phase of the project was initially estimated atRs. 60 bn, at April 1996 prices. Later in 2002, with the cost of the project

rising by approximately 10Vo per year, the estimate was revised toRs. 89.27 bn.

Initially, for Phase I of the metro to become viable, it was estimatedthat it would have to transport 2.2 million passengers per day. This waslater revised to 1.5 million passengers per day. The economic IRR? (Internal

? Internal Rate of Return or IRR is defined as the rate of return that would mahe thepresent value of future cash flows plus the flInal market value of an investmentequal to the cunent value of the investment. It is used by firms to make decisionsregarding long-term investments (Source: www.investorwords.com).

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Rate of'Return) of the project worked out to be about 2l.44o8 while thefrnancial IRR was less than 37o. In view of the high cost of the project and

the low frnancial IRR, some ministers in the GoI even zuggested that thepmject be dropped. However, the GoI decided to go ahead with it, keeping

in minal that it was essentially a "social sector" project, expected to benefit

the regional economy in more ways than one.

The frnancial plan for Phase

I was approved by the GNCTDand the GoI in 1996. Of theproject cost, 28Eo was to befinanced by equity, subscribedto equally by the GoI and theGNTCD. The two also agreedto give interest-free subordinateloans to cover the cost of landacquisition, which was exPected

to be about \Vo of the total project cost. Funding for the m4ior share orabout 647o ofthe project cost was to be provided by the Overseas F,conomic

Cooperation Fund (OECF-which later became JBIC) through a time-

slicetl soft loan.e JBIC disbursed the loan in tranches with each tranche

treated as a separate loan, with its own moratorium and repaymentperiod. The repayment period for each tranche was set at 30 years, which

includecl a l0-year grace period (Refer Table II for the loan hanches given

by JBIC).

Property developmentro at the highly lucrative sites around the metro

stations was to generate funds to cover the remaining 3% of the project

cost. The debt-equity ratio was fixed at 2:1. The GoI and t'he GNCTD also

clecided to bear the exchange rate risks equally. The DMRC planned torepay the OECF loan through surpluses from revenues, propertydevelopment around metro stations- and its corridors, and levies/taxes on

the residents of Delhi. Further, the project was exenpted from custom

and excise duties.

Tl:e Project Team

With the funding for the project being frnalized, the next step was to

constitute a project tearn. Sreedharan was appoint€d as project mnnager

and managing director of the DMRC in November 1997. A technocrat, he

" Phr* l.f the Dethi Metro was expected to generate substsntial benefits to theeconomy by way of saving time for commutere, enabling reliable and safe journeys,

reducin! atmospheri" poilrrtiott, curtailing the nubber of accidents, reducing fuel

"or,"rr-!tion, rlducing vehicle operating cost8, increasing the average speed of

road vehiclee, and improving the quality of life-all of which, in turn, wete expected

to msle Delhi a more attractive city for inv@tmeDt'

s Time-eliced loans are given in parts (tranches or slicee). Each part had its own

interest rate, moratorium, and repayment p€riod'D The DMRC planned to generate around Rs. 6 bn by developing resl estate projects

in and arouud the metro stations. This included 8n IT park, a mega shopping mall

curn multipler, restaurantg, ATM counters, beveraSp counters, web stores, chernist's

shops, and coffee parlors.

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The key operating and.tnaintenance personnel ofDMRC receiued. training

at Eong Kong's MossTlansit Railuay

Corporotion (MTRC)

had had a long stint in the Indian Railways OR) and had retired in 1990.During his service with IR, he had earned a reputation for completingmajor projectsll on time and within the budget.

By the end of 1998, DMRC was able to recruit only 100 people; around707o of the senior sta{f at the DMRC was on deputation from IR. The longdelay in recruitment prompted critics of the project to comment that itwas ar indication that the project itself would take more time and moneythan planned.

Sreedharan was given complete freedom to pick and choose the projectteam. He selected a motivated team of professionals whom he regarded asfundamental tn the success of the project. "Each member of the team wasinterviewed personally by me. I went through their track record particularlywith regard to their integrity,"r2 said Sreedharan. Most of the staff wasbetween 18 and 30 years. Unlike other public sector organizations in India,the DMRC opted for a lean structure. It had just two departments-projectorganization, and operation and maintenance.

The Delhi Metro was only the second metro project in India (the KolkataMetrols being the first). Since the technolory to build metro systems was

highly specialized, experts in the areas of civilengineering, electrical engineering, communicationsengineering, etc., were needed. However, the DMRC facedthe problem of skill shortage as the country had neitherinstitutes which taught metro technolory nor experiencedpersonnel. Therefore, after recruiting suitable candidates,the DMRC sent them abroad for training. The keyoperating and maintenance personnel received trainingat Hong Kong's Mass Transit Railway Corporation(MTRC). They, in turn, trained the rest of the staff. Laterthe DMRC opened its own "Metro Training School" atShastri Park, New Delhi. Sreedharan too visited subwaysystems around the world for ideas on building the DelhiMetro. In an interview describing the diffrculties he faced

in getting suitable people, Sreedharan said, "When we started there was ahandicap as almost everyone was new to metro projects. Then we educatedall the persounel and officers and absorbed experience from generalconsultants to upgrade our skills and now these very personnel havebecome one of the greatest assets to the nation."la

l In 1963, Sreedharan was in charge of the repair of the Pamban bridge joiningRaureshwaram, an island off the coaat of Tarnil Nadu, with the mainland. He wasable to complete the project in 46 days whelr the project duration was set at 180days. In 1997, he was put in charge of the Konkan Railways project, which involvedbuilding a railway system along the west coast of Indis, covering 760 km. Theproject, which was a mqjor engine€ring feat with 150 bridges and 93 tunnels, wascompleted in record time and within the budget.

u "First Section of the Delhi Metro to Open this Year", www.highbeam.com,January 03, 2002.

The Kolkata Metro in the eastern city of Kolkata (earlier known as Calcutta) inIndia was inaugurated in 1984. It is 16.45 km long add has 17 stations.

"Taking Metro to New Heights", www.hinduonnet.com, April 04, 2005.

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The'corporation aimed to project an image of efficiency, courtesy, and a

"we-mean-business" attitude; the employees were also required to be polite

and discharge their duties to perfection. "What is important is that I have

created an organization which has got a unique work culture andorganizational values. The t€am consists of bardworking, dedicated, andprofessionally competent people,"l5 said Sreedharan.

The DMRC corporate culture was based on integrity. It was clear tothe management at the DMRC that if the metm was to be built within thebudget and on time, they would have to put in place effective contract-

awarding arrd procurernent processes in order to prevent cormption-thebane of most public sector projects in India. For this, the contract'awardingprocess was made ttansparent and simple. The procurement processes

were made "fair and just" by removing almost all traces of subjectivityfrom tender evaluation.

Planning the Project

In India, major infrastructure projects are often stalledbecause of a lack of funds, political interference, lack ofprofessionalism and accountability, property disputes,corruption, etc. Therefore, even before the commencement

of the project, the DMRC attempted to put in place effectivesystems to ensure the smooth progress of the project.

Funding was not an issue in the case ofthe Delhi Metroproject because it was settled even before the projectcommenced, In order to steer clear ofpolitical interference,the DMRC sought autonomy on all major matters and

the GoI promised to give it this autonomy. "Financialpowers were vested in the Managing Director' AIso, theManaging Director was the last authority on tenders,"r6

fhc DMRC aimed' toprojeet an irnage of

ffieienca| courtes!' a'nd aw e-ntean-bu si|n;es I at titud'e

with a team ofhardworking, d.edieated,

and professionallycornpetent people

said Anuj Dayal (Dayal), Chief Public Relations Olfrcer, DMRC.

Next, the project manager put in place a system where every individual

would be accountable for his/her role in the project. Each employee had toprepare a Detailed Project Report (DPR) with particulars regarding the

work assigned and work completed each day and this was to be submittedto the respective supervisors. In case of deviations, the employee had togive reasons for the deviations and see that they were rectilied. Every

Monday, the heads of departments had to meet to review progress, set new

targets, or revise targets, Great stress was laid on adherence to schedules

and reverse clocks were to be used to indicate the number of days leftbefore important deadlines. This kind of approach was unusual in public

sector projects in India.

Even though the project commenced three years later than originallyplanned, Sreedharan and his team decided to stick to the original deadline

for the cornpletion of the Iirst phase, i.e., December 2005. "When the

" "Taking Metro to New Heights", www.hinduonnet.com, April 04, 2005.

6 "On the Fast Track", www.tribuneindia.com, January 02' 2005.

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To ensure th.at propertydisputes did not hind.er the

progress of the DelhiMetro project, the GoI

enacted. the Delhi MetroRailway (Operation &

Maintenance ) Act, 2002

government approved the project, it was envisaged that the metro wouldbe completed in 10 years. Work should have started in 1995, but we didn'thave an organization in place until 1997 so we were only able to beginwork in April 1998. Nevertheless, we said, we would complete the firstphase within seven years to meet the original target. This will be quite anachievement to build a metro from scratch within seven years,"t7 saidSreedharan,

Like other major infrastructure projects in India, the Delhi Metro projecttoo faced its share of property disputes. To ensure that these disputes didnot hinder the progress of the project, the GoI enacted the Delhi MetroRailway (Operation & Maintenance) Act, 2002F or the Delhi Metro Act in2002. The Act, which spelt out the rules for the local authorities, supersededthe local municipal laws of Delhi. Also, lower courts were barred fromissuing stay orders. This, to a large ertent, prevented property ownergaffected by the project from getting stay orders from courts to halt workon the project. In other cases, the DMRC engaged a team of lawyers tomake sure that the courts did not grant such stay orders.

In order to control costs, the total expenditure of.theDelhi Metro was split into three broad heads-manpower,enerry, and materials including maintenance. Each ofthese accounted for approximately one-third ofthe projectcost.

To control manpower costs, DMRC enployed only 45persons per kilometer of track-a number that was closeto the international norm. Kolkata Metro, in contrast,had employed three times as many people. Theorganization was designed to be lean but effective. Tokeep down enerry costs, DMRC entered into a specialagreement with the Delhi Transco Ltd-le to source powele

for the project at a very low rate. DMRC used Primavera Project Planner3.0'r for project planning and monitoring. The resource planning moduleofthe software alerted users if there was an excess or shortage of resources

and the cost planning module provided a complete cost break-up for theproject.

"First Section of the Delhi Metro to Open this Year", www.highbeam.con, January03,2002.Prior to 2002, tlle Delhi Metro project caDrc under tlre Metro Railways (Constructionand Worls) Act, 1978. The 1978 Act was elacted t facilitate the construction oftheCalcutta (Kolkata) Metro. Since this Act covered only the construction stage ofMetro Railways, the need for an exclusive Act for the Delhi Metro, covering operationand maintenance, was felt. Therefore, the Delhi Metro Act was enacted by the GoIin 2002.

Delhi Transco Ltd. is the state-run transEtission utility for Delhi.

The Delhi Metro project soulced its power from dilferent sources in order to ensurecontinuous supply of power They are-Badarpur Thernral Power Station. NorthernRegion Electricity Board and NTPC Thermal Pos'er Station. The DMRC paid theDelhi Tlansco Rs. 4.80 per unit.Primavera Project Planner 3.0 software was developed by Primavera of the US,and supplied to the DMRC by KGL Systems which was a technical and marketingpartner of Primavera in India.

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The software allowed the DMRC to keep track of project activities, thequantum ofwork completed at different levels, the time lost or gained, etc.It also pmvided information of all critical and upcoming activities, makingit possible to keep track of and reschedule activities wherever necessarJr.

This was vital considering the loss incurred if one day of work was lostwould amount to about Rs. 5 mn.

In order to ensure quality in construction, the DMRC appointed a specialquality assurance team independent of the field executives. Safety was amajor concern. All personnel working at the construction site were requiredto wear helmets and other appropriate safety gear.

The DMRC adopted a global bidding program for consultanry andcontracts that required at least one Indian partner. This was done tofacilitate technologr absorption by Indian firms and to ensr:re that thetechnolory was localized and reengineered. "One of the preconditions forany multinational company to bid for a Delhi Metro project is it shouldhave an Indian partner,"22 said Dayal.

The DMRC secured the best technology availableglobally, for the Delhi Metro (See Exhibit III for featuresof the Delhi Metro). "We are proud to say that Delhi Metmhas the best and latest technolos. in the world, sourcedfrom various countries. In fact, it would be appropriateto say that we are using tomorrow's technologr today,"asaid Sreedharan. Several multinational engineeringcorporations from Australia, France, Germany, Japan,Korea, Portugal, Spain, and Sweden worked on the project(See Exhibit IV for the names of the various companiesinvolved in the project).

To foailitate teehnologyobnrptian by Ind.ian firms

and, to ensure thet thetechnalog5t u)as locolized,

and reengineered, theDMRC adapted. o globol

bidding progrom forcartaulta,nct, and contracts

A five.mernber consortium, called the General Consultants Group, wasconstituted in 1998 to prbvide overall consultancy for the project. Thisgroup included the Japanese frrms Pacifrc Consultants International (PCD,

Japan Railway Technical Services, and Tonichi Engineering ConsultantsInc., US-based Parson Brinkerhoff International Inc-, and RITES. Thegroup was lead by PCI.

Initially, there was disagreement between the IB and Sreedharan overthe gauge to be adopted for the metro. Sreedharan was in favor of standardgauge,2a generally used in metro systems the world over, while the IRfavored the broad gauge,25 the gauge used over most ofthe railway networkin India. Finally, the GoI intervened and asked the DMRC to adopt thebroad gauge for the Delhi Metro. This confusion delayed the project by afew months.

The work on utility diversion was undertaken much before the workon a particular section commenced. The DMRC followed a systematic:,, "Riding High in Delhi", usembassy.state.gov, July-August 2003.! "Interview with E Sreedharan", www.indiainfolide.com, December 19, 2005.a The tracks in standard gauge are set 1435 Bm or 4 ft 8 1/2 inches apart.5 The tracks in broad gauge are set 1680 mm or 5 ft 6 inches apart.

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Exhibit lll: Outstanding Features of the Delhi Metro

The Delhi Metro was considered an advanced MRTS, lt followed all the appropriate lndian andlnternational construction codes.

Each metro train could seat 240 passen8ers with space for another 1,240 passengers to stand. Ofthe required 280 coaches, 60 were manufactured offshore in Korea and the other 220 coacheswere to be manufaclured by progressive indigenization by BEML. The coaches were 3.2 m wideand made of lighh{eight stainless steel. The coach jnteriors were air-condilioned and fireresistant, Every coach was fitted with anti{ollision devices conformint to international standards.

Centralized Automatic Train Control (CATC) comprising Automatic T.ain Operation (ATO),

Automatic Train Protection {ATP), and Automatic Train Signalling (ATS) systems was installed onthe Delhi Metro. The ATO was mostly used on the underground section. The ATP system appliedautomatjc brakes on lrains and brought them to a dead halt when train drivers went too fasi or 8ottoo close to anothertrain. This system made the Delhi Metrc very safe even when more than 256trains trave,ed on any line-

Ticketing in the Delhi Metro was fully automatic. Contactless stored value smart cards served theplrpose of tickets for metm passengeG. The entire fare collection system was monitored througha central computer in the ope€tional control center of ihe DMRC.

Communications equipment on the Delhi Metro consisted of a transmission system withfiberglass cables, a train radio system enabling communication between the metro trains and theoperations controlcenter, an internal telephone system, a public-address system forthe individualstationt and the power supplies for the various communications equipment.

A fully automatic computerized syttem i.e., SCADA system isupervisory Control and DataAcquisition System) was used for controlling the power supply. The system could detect faultsand rectify them within seconds. The power for runningtrains as wellas for all the stations ofthe11 km underground section r:ame lhrough a feed from the New Delhi CIS sub-station-

The station air<onditioninS and ventilation system in tunnels were designed to meet the rigorousclimatic condjtions of Delhi (temperature is maintained around 29qC). lls reve6ible ventilationfans were designed to keep passengers cool while the automatic fire doors ensured their safety.

Also, all coaches were provided wilh emergency batteries that provided lighting and ventilationin case of power failurc. There were escalators and accessible elevators at all stations, with tactiletiles to guide the visually impaired from outside the stationg to the trains. All entrances of themetro gtations were controlled through automatic flap gates through which 45 to 60 passengers

colld enter per minute.

The security systems on Delhi Melro were comparable to the best transport systems in the world.All stations were fitted with CCTV cameras and suryeillance systems. The trains system also had"in+uilt safeguards' against any tenorist attack. Even though X-ray machines were installed atsome stations, manual f.isking qf passengerc was also done as it was considered more'effedive".All metro stations also had their own police force called the Metro Police.

Since Delhj is an earthquake prone area, the elevated and underground sections of the Metrowere constructed to withstand extreme seismic stress. Allstations we€ fitted with seismic senso6

to wam of imPendins earthquakes.

C,inpiled hotr' vaious s)r<Es

process wherein the concerned consortium surveyed the area for the utilities(water pipes, sewer, power cables, etc.) to be diverted and submitted a wdttenrepori to the DMRC. The DMRC in turn forwarded it to the concerned utilitybodies, which completed the work within a prescribed period.

The DMRC decided to adopt construction technologies that would helpit make up for lost time. These included trench-less digging and the use ofpre-fabricated/precast concrete26 blocks and ballastless tracks." The use

Precast concrete was generally prepared by casting concrete in reusable molds in a

controlled environment. Later, it would be transported to the constmction sife andset into place. It generally was of higher quality and cheaper than tmditional concrete.

Ballast, consisting of gravel and cinders, usually form the track bed on which railwaysleepers are laid. In ballastless tracks, tracks are placed on concrete without sleepeNor ballast being used. Ballastless tracks are mainly used on high speed lines and intunnels.

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Exhibit lV: Companies lnvolved in the Project

ceneral consultants Croup Pacific Consultants lnternational (PCl), JapanRailway Technical Services, and TonichiEngineering Consultants lnc. (all three belong tolapan), Parson Brinkerhoff lnternational lnc.(USA and RITES (lndia).

Rolling StockMitsubishi Corp. iJapan) and KORoS (renamedROTEM) (Korea) and Bharat Earth Movers Ltd.

Alternating Current (AC) propulsionsystem, jnstallation and control systemfor rolling stock

Mitsubishi Electric Corp. 0apan).

Centralized Automatic Train Control Al$om Transport Ltd. (lndia), Alstom 5A {France),Alcatel SA (PortuSal), and Sumitomo Corp.0apan).

Fare Collection System Thales-etransactions CCA, SA {France)

Communications Equipment Siemens Ltd. (Cermany).

SCADA (Supervisory Control and DataAcquisition) System

Alcatel (France).

Maintenance Activiiies Cobra SA and Eliop SA, (both of Spain) andIRCON lnternataonal Ltd. (lndia).

4 km stretch {Vishwa Vidyalaya toKashmere Cale)

Kumagai Cumi (Japan), skanska {Sweden),Itochu (,apan), and Hindustan ConslructionCompany (lndia).

7 kms (Kashmere Cate to CentralSecretariat)

Dyckerhoff Widmann AC (Cermany), L&T(lndia), Samsung Corp. (Korea), Shimizu Corp.0apan), and IRCON lntemational Ltd.

Cotnpiled hom vatious sout€s

of ballastless tracks also minimized maintenance costs, reduced vibration,and provided greater riding safety and comfort for passengers.

Project Implementation

Construction work on the project commenced on October 1, 1998. Theentire project was divided into three lines. Further, these lines were dividedinto sections (Refer Table III for details of Phase I of the Delhi Metroproject).

Line 1 (Shahdara to Rithala)

The work on Phase I commenced with the Shahdara-Tis Hazari section ofLine 1, covering a distance of about eight kilometers. The work involvedutility divers'tons, barricading, and actual civil constrrrction. A major partof this section was on elevated tracks. All tracks in the elevated corridorwere laid on concrete (ballastless). The tracks were supported on singlepiers. The elevated viaducts had a height of 10 m and were built generallyin the middle of the roads.

The tracks were fenced with 10 ft high concrete slabs with barbedcircular wire on top to prevent trespassing. The section where the metrocrossed over the river Yamuna was constructed first because the densitv

Page 13: ABC

Table lll: Details of Phase I

Particulars Sections Character Length, Stations Opened on

Line 1 Shahdara to Elevated and 7.92 km, 25/1212002(Shahdara to Tis Hazari at-grade. 6 stationsRithala)

Tis Hazari to 4.74 km, O4/10/2OO3lnder Lok 4 stations

tnder Lok to 9.40 km, 01104/2004Rithala B stations

Total 22.06 krm, 1B dations

Line 2 (Vashwa Vishwa VidyalayaVidyalaya to to Kashmere Cate Underground 4 km,4 stations 20112/2004Central Secretariat)

Kashmere Cate to 7 km,6 stations 0310712005Central secretariat

Tolal 11 kms, 10 stalions

Line 3 (Barakhamba Barakhamba toto Dwaraka) Dwaraka

With extensions to Dwaraka- SubcityLine 3. Dwaraka

Baaakhamba tolndraprastha

Elevated andAt Cradewith a rhortundergroundsection

where it joinsLine 2.

22.79 kms,22 stations

6.5 kms,6 stations

2.Bl kms,3 stations

31/1212005

01/0412006

Expected totle completedin September2A)6.

TotalTotal lentlh of Phase I

32.1 kms,31 stations65.15 kms, 59 stations

Sou rce: www.del h i rnel.rctai l.con

of traffic was projected to be the highest on this route. Building across theriver Yamuna was completed by using a special technique called"incremental launching"'3. The use of this method caused minimumdisturbance to traffic. This was also expected to provide a smoother journeyfor commuters because of lack ofjoints. Line 1 also included a short sectionwhich was built at-grade. Line 1 became completely operational with theinauguration of the Inder Lok to Rithala section in April 2004.

Line 2 (Vishwa Vidyalaya to Central Secretariat)

Line 2 of Phase I covered 11 km and was cornpletely underground. Of this,a 4 km stretch (Vishwa Vidyalaya to Kashmere Gate) was constructed byKumagai Gumi of Japan, Skanska of Sweden, Itochu of Japan, andHindustan Construction Company (HCC) of India using the "cut andcover"2e method. The work for the remaining 7 km (Kashmere Gate toCentral Secretariat) began in April 2001 and was handled byM/s International Metro Civil Contractors (IMCC),3o a joint venture of

6 In incremental launching, segments of the bridge were precast and then werelaunched in place with the hetp of special low-friction sliding beadngs with lateralguides-

a This is a simple method ol excavation for building tunnels- In this process, a trenchis dug and is later roofed over, with strong supporting beams to prevent roofcollapse.

s IMCC comprised Dyckerhoff Widmann AG (DYWIDAG) (Germany), Larsen andToubro (India), Samsung Corporation (Korea), Shimizu Corporation (Japan), andIrcon International (India).

Page 14: ABC

five companies. Of this section, 4 km involved underground tunnelingwhich was done using fully-automated, high performance boring machines.

The remaining 3 km were constructed using the 'cut and cover' method.

This section of Line 2 was completed eight months ahead of schedule.

The tunneling started in August 2002 and was completed by September

2004. Different tlpes of machines were used for tunneling, depending on

the soil conditions. For a distance of 4 km between Kashmere Gate and

Patel Chowk, Rock Tunnel Boring Machines (TBM) and Earth Pressure

Balance Machines3' (EPBM), purchased from Bangkok Metro,32 were used

for tunneling. To further speed up the process of tunneling, the DMRC

used the New Austrian Tunneling Method33 (NATM). This method provided

temporary support to the rock by means of shotoetesa and rock bolts tillpermanent concrete was used (Refer Exhibit V for more about the tunnelingprocess). The twin tunnels for up and down movement of trains were

made using high quality reinforced concrete. The finished internal diameter

of these tunnels was 5.7 meters.

D.lt llhr cir!.t t t{ar Co!![ugflla5- D{rt FltG.

OaaSl t rr

EPBX Son &tt2€5a.{ X.t r!26622 LLr.

I l3l,.tds<t,C ,.OGI

b gOiLlO X.r...d 9ta.8(' l..t tr

I r{Ar* &r.> 3aa Lo.r.r( 3Ag X.{.r.

chr.t i.t Coqll|ughrBt , Ot{ r.!a3a

'. *-*-aenime*r6ra{-cor"

The completion of tunneling was a major milestone for the Delhi Metroproject in view of the tricky ground conditions and the requirement toensure complete safety of the buildings in the vicinity. Most of the buildingsin that area had shallow foundations. The DMRC therefore undertook a

"condition survey" of each building and strengthened the foundations of

ftt". nlnlf i" . typ" of Tunnel Boring Machine (TBM). It is generally used when

bodng below the water table. The cutter head is pressurized with either fluid or airto balance the water pressure. EPBM op€rators generally had to undergo intensive

training including passing through decompression chambers like deep sea divers'

Bangkok Metro was constructed by the Mass Rapid Transit Authority (MRTA) ofThailand and operated by Bangkok Metro Public Company Limited (BMCL) undera 2s-year concession.

NATM used the geological stress of the rock mass in the tunnel to stabilize thetunnel. An optimal cross-section IDas computed using geotechnical measurements'

Shotcrete was used, immediatety after excavation, to create a natural load-bearing

ring in the tunnel which also minimized rock deformation.

Shotcrete (sprayed concrete) generally used compressed air to shoot concrete onto

surfaces. It was generally used in vertical str-uctures, rock surfaces or for rocksuppoft during tunneling activities

Page 15: ABC

The elevated tracknte@suring 23 km ot theBoja Gard.en crossing

becanne the longest metrosection in the world. to beput in to seruiee ot one go

the weak buildings. This was all the more important as the tunnelingactivity was carried out in areas with very old buildings, some even datingback to the l?d Century Mughal Empire. "The new underground sectionwas the most diltrcult and formidable stretch of Phase-I of the metro. Wehad to preserve the architectural heritage of old Delhi and the characterof Lutyen's Delhi,"36 said Sreedharan. The metro underground tunnelwas expected to have a life of 120 years.

The frrst 4 km section of Line 2 between Viswa Vidyalaya and KashmereGate became operational in December 2004. The line's linal ? km sectionopened in July 2005. Line 2 was completed within the budget and ninemonths ahead of the contracted schedule.

Line 3 (Barakhamba to Dwaraka Sub-city)

The work on Line 3 started in February 2003. In April 2004, the GoI andthe DMRC decided to extend Line 3. This led to theaddition of about 9 km and nine metro stations to Line3. With the extension, the total length of Phase Iincreased to 65.16 km (13.01 km Metro corridor and52.15 km Rail Corridor). The scheduled completion dateof this phase was also revised from end 2005 to March2006. The revised cost of Phase I of the Delhi Metro wasestimated to be Rs. 105.71 bn, which excluded the costof the Dwarka sub-city extension (Rs. 3.20 bn) whichwas to be funded by the Delhi Development Authority(DDA).

Over the course of the Delhi Metro project, the Indianpartners-especially RITES-in the consortiums

acquired several capabilities. This gave the DMRC and RITES the confidenceto manage the construction of Line 3 on their own even though the stretchpassed through somei of the most congested areas of Delhi. Moreover, somechanges were incorporated in Line 3 to cut down on costs as well as ontime to make the facility more user-friendly. For example, Line 3 usedU-shaped girders36 in constructing most of the elevated sections. Thesewere believed to be cost-effective, aesthetic, and sound absorbent. Also,cement waa replaced with steel at many places in order to save time.

The Baralhamba-Dwarka Metro section was inaugurated on December31, 2005. This section was elevated or at-grade with a short undergroundsection in central New Delhi that intersected with Line 2 at ConnaughtPlace. At that place, the track was at a depth of 16 rneters. It graduallyrose to a height of 10.5 meters. It was constructed at a 37o gradient, whichmeant that the track rose by 3 meters for every 100 meters traveledhorizontally. This section was completed in 30 months. The elevated trackreached a maximum height of 17.5 meters at Raja Garden crossing, where

"New Underground Section of Delhi Metrc Idaugurated", www.outlookindia.com,July 02, 2005.

A girder is a support bearn used in construction. Tracks were laid on girders acrosselevated sections, especially bridges.

Page 16: ABC

it crossed over an existing flyover. It also became, at 23 km, the longestmetro section in the world to be put to service at one go.

In April 2006, the extension line from Dwarka to Dwarka sub-city wasinaugurated. As more land was available in this section, the metro trackswere supported not on a single large pier but on two smaller circular piersplaced side by side with a small foundation. This also meant that nobuildings had to be demolished or people displaced as in the constructionof the other lines. All the work on Line 3 was completed by April 2006,

except for the Barakhamba to Indraprastha section, which was expected

to be completed by September 2006.

Managing the Stakeholders in the Project

Effective project management involved not onlycompleting tlre pmject on schedule and within the budget,but also managing the project's stakeholders. Thestakeholders included the governments, the contractors,the funding agencies, and the general public.

Despite assurances that the DMRC would enjoyautonomy, it faced political pressure not only in itsrecruitment processes, promotions, and contractawarding but also in land acquisition. However, theDMRC resisted this pressure. "...we never changed anydecision simply because somebody wants it. If it wasrequired technically or frorn a professional angle, yes,

we do it. Not because anybody wants it,"37 saidSreedharan.

Effectioe projectn,anagernent inuolaed nnt

only eornpleting theptoject on sehedule and

u:ithin the bud.get, ;but alsonxan@ging the project's

staheholders

The DMRC also ensured that it paid the contractors, whom it called

"associates,' on time. It was able to complete most of the project withinthe budget mostly by liniting comrption. "The contractors are gratefulnot to have to give bribes to get a project,"33 said Sreedharan' Because ofthe cordial relationship that the DMRC was able to establish with thecontractors, they worked harder to help the DMRC in its project activities.In fact, the project was frnished ahead of schedule on certain sectionsbecause of the suggestions given by the contracto$ on utility diversionaltd surface road tra{frc management.

Considering that the Delhi Metro was constructed mostly with Japanese

funds, DMRC put in special efforts to maintain good relations with JBICoffrcials.'It made it a point to invite JBIC officials to the inaugurationevents of various metro sections.

The DMRC also tried to ensure that the project did not cause muchinconvenience to the general public. It faced and overcame challenges ofrelocating a large number of utilities like water pipes, sewerage lines,telephone and electric cables, to facilitate the construction work. It ensured

t "Politicians Know I Cannot be Maneuvered", www.rediff com, March 10, 2006

3 "Elattuvalapil Sreedharan, Getting New Delhi on Track", www.time.com, 2003.

Page 17: ABC

that all these utilities were diverted in advance, so that there was nointermption of services during the construction of the metro in a paxticulaxarea. It organized community interaction programs to inform and seeksolutions from the public. "We have a community meeting to exprlain whatwe will do, what problems are likely to arise for them, and to seek theirhelp. We have publicized a telephone help line number so that anyone witha problem or question can contact us,"3e s 'd Sreedharan.

The DMRC also faced the diffrcult task of relocating the peoplee evictedfrom properties acquired for the project. It built temporary accommodationsfor the people who were to be relocated. With the Delhi Metro Act cominginto force, the DMRC faced very few legal problems in acquiring properties.About 400 caries were frled against the DMRC on this issue, out of whichonly 100 were pending as of 2006. Of these, most were for augmenting theassessed value of the property, and the compensation to be paid. "One ofour main achievements has been our ability to acquire land and novepeople without any major problems, whereas this is normally a verysensitive issue in India,"4l said Sreedharan.

In order to lessen the difficulties for rnotorists and pedestrians, alternatetralfic plans for the roads affected by the construction work were preparedwell in advance, with the assistance of the Indian Institute of Technologr,Delhi. When the construction began, barricades were put up x'ithassistance from Delhi Traflic Police. Moreover, new roads were built orthe existing roads widened to accommodate traflic before work actuallystarted.

The DMRC also tried to ensure that the construction of the Delhi Metrodid not damage the environment. It pursued enyironmental and safetyobjectives during the construction and operation of the Metro by seekingand receiving the appropriate ISO certifrcations. In 2003, the ISO 140014'Environmental Management certification was achieved on two sectionsduring the construetion phase itself. In addition, in 2004, Delhi Metroobtained the OHSAS 180014 certifrcation for its environment, occupationalhealth, and safety management system.

"First Section of the Delhi Metro to Open this Year", www.highbeam.com,January 03, 2002.

The people who had to be evicted were generally the ones who owned properties orhouses along the intended metro tracks. The project involved the removal of30 slums, and 4,000 structures, which included several small businesses.

"First Section of the Delhi Metro to Open this Year", www.highbeam.com,January 03, 2002.

ISO 14001 environment management standards help organizations minimize theadverse effects of their operation processes on the environment. These standardsare flexible and can be applied to any organization producing any product or serviceat any place in the world. The Ne\a'York Metro is the only other metro to obtain thiscertification.The OHSAS 18001 certification is a part of BSI's (a leading business serviceprovider) Health & Safety Electronic Book. The certification was created throughthe efforts of a number of the world's leading national standards bodies, certifrcationbodies, and specialist consultancy groups. It is compatible with both the ISO 9001and ISO 14001 management systems standards.

Page 18: ABC

The DMRC ensured that the construction sites were entirely covered,

with no soil or tlirt being allowed to spread outside. Trucks carried away

debris antl clugout soil during the night. The construction site was also

totally concealed from public view and all vehicles going out of the site

were washed at the entrance. During the construction stage, special efforts

were made to minimize construction noise and pollution. The DMRC used

silent generators at work sites arrd also used light shields to reduce glare

from work lights at night.

The DMRC took measures to dispose of waste water from theconstruction sites in an enYironmentally-friendly manner' It initiated a

program to plant new saplings along the route of the metro, to replace the

i"""" ttt"t hatl been cut down during the project. It also included theprovision of rain-water harvesting'! facilities as part of its stationconstruction contract, as a measure to conserve water'

Project Evaluation

The successful completion of the project effectivelysilenced the critics who had been skeptical about the abilityof an Indian public sector organization to complete anyproject, let alone one as complex and costly as the Delhi

Metro, on time and within the budget. The DMRC stuck

to its completion targets throughout the project and even

Iinished some sections ahead of schedule. The extension

work (on a 2.8 krns stretch) on Phase I was progressing

smoothly and was expected to be completed by September

2006.

DMRC was expected to save Rs' 6-7 bn on the project'

"The project completion cost is Rs. 10,570 cr (Rs' 105'70

bn). We have not spent that much. Now the project is

During th.e

construction sta'ge'

speci@l efforts weretnode to minimizeconstruction noise

and. pollution

practically over. My own assessment is we will definitely save about

it*. ooo o to Rs. ?00 cr (Rs. 6 bn to Rs. ? bn) on the project cost,"6 said

Sreedharan.

This was in contrast to the cost escalation seen in most public sector

projects in Intlia. The DMRC was successful in keeping the cost of the

project at US$32-53 mn per kilometer. In comparison' the Bangkok Metro

Lad incurred costs of US$56-80 mn per kilometer'

Outlook

The Delhi Metro was expected to play a major role in relieving the transport

problems faced by the city's residents. Moreover, with the GoI planning

extensions to the Metro, it appeared that the benefits of an effrcient

ffithe metro stations was to be di'erted through

the drain pipes to settlement/filtration tanks where the water was cleaned, before

being allowed to flow into borewells below the stations'

6 "Dethi Metro has Become the Symbol of India's Progress", wwwrediffcom,March 13, 2006.

Page 19: ABC

Exhibit Vlll: Operational Aspects of the Delhi Metro Project Phase I

A study of the operational aspects of different metrc network of the world Save the DMRCinputs to run the Delhi metro. Within the short period that it had been functioninS, the DelhiMetro set new operational efficienry standards. lt became one of the few railway systems in

the world to rccord a punctuality level of over 99",6 in train operations. The trains operated atintervals of three to five minutes beh^r'een 6 a.m. and 10 p.m.

ln 2003, the DMRC signed an agreement with the Delhi Transport Corporation (DTC),

Delhi's bus operator, for the introduction of about 200 shuttle buses to move people to and

from railway stations.

ln the early days of the Delhi Metro, there was a near stamp€de to get onto the trains. People

iostled with each other, refused to stand in queue, did not return the tokens, tore up the seats,

spat inside the coaches and even pulled the emergency chains without reason. The DMRCeducated passengers on appropriate behavior in trains as well as imposed Penalties to rectifytheir behavior. It also conducted programs to teach passengers how to enter and exit thecoaches properly.

The DMRC laid a lot of emphasis on commercial propeny development in the meko station

complexes to earn higher nonaperating revenues. As of 2006. almost 20% of the annual

revenues of the DMRC came from these sources. Moreover, the DMRC had a system torationalize its fare structure so that the Delhi Metro earned more per passenger withoutaffecting passeng$ numbers. The maximum expenditure, about 23Yo, was incurred onsalary. wages, and other employee costs.

Prrticnlars 2004"0s(Rs. in mn)

2003-04(R5. in mn)

Revenue (income from operations, consuhancy and

rentals from propenies)

Expenditure (be{ore depreciation and intercst on loans)

Loss after adding depreciation, interest and other costs

720

s20760 320

Canpiled twn vaious soutcE

and remodeled it to suit the requirements of the broad gauge track. Even

after delivery the rolling stock had to go to Bharat Earth Movers Limited(BEML) in Bangalore for fitment before it was ready for operations inDelhi, thus delaying the deployment of rakes. "We cannot increase thefrequency further than that due to the shortage of trains (rake),"a? said

Satish Kumar (Kumar), Director (Rolling Stock and Electricals), DMRC.

Similarly, the process of indigenization of the coaches was also not yetcomplete.

Another challenge that the DMRC faced was the severe dearth ofparking facilities at its metro stations. Many of its parking lots were fulland in some areas, the municipal authority that owned the land aroundthe metro stations did not allot it sufficient space for parking facilities.To deal with this problem, the DMRC initially considered building multi-Ievel parking facilities near its stations. However, the idea was droppedowing to its prohibitively high cost. Instead, the DMRC sought tointroduce more shuttle buses to and from the stations, to solve the parkingproblem (Refer Exhibit VIII for more information on operational aspects

of DMRC).

The DMRC earned revenues of Rs. 1.50 bn in the financial year ended

March 2006, in comparison to the Rs. 720 mn it had earned the previousyear It planned to repay the Japanese loan from 2007. Moreover, it expected

to earn additional income by providing consultancy services toorganizations and cities, both in India and overseas. Sreedharan said

4 "Crowded Days Alead for Delhi Metro", wwwhindu.com, Julv 18, 2006.

Page 20: ABC

"DMRC has also been approached by Pakistan, Bangladesh, Sri Lanka,United Arab Emirates, S1'ria, and Iran for setting up metro systems intheir countries."as {t

Namratha V Praead,Former Research Associate,

The lcfai Center for Manage Eft nesearch (ICMR)

So,ahin Gouind'Fatulty Associate,

The lcfai Center for Management Research (ICMB)

SS George,Director,

The Icfai Center for Management Research (ICMR).

References

1. Chand.an Mitra, Delhi is Finally a Metro, wuw.dail5pioneer.com,JuIy 10, 2006.

2. Mawjit Saha, Metro RaiI will be o Chcap Modc ofTtansportation, www.proiectsnlonitor.com, July 06, 2006.

3. Rajat Guho, Govt to Give Metros a Free Run, Under CommonCode, www.economictimes.indiatimes.com, June 23, 2006.

4. Gaurqv Viuek Bhatnagar, Crowdcd' Days Ahead for Delhi Metro'www.thehindu.com, June 18, 2006.

5. Sudipta Sengupta, Delhi Metro Reprta Loases for 2nd Year in aRaw, www-merinewscorry May 26, 2006-

6. Vqnd.qna Gombar, Ie the Delhi Metro a Costly Mistake?www.rediff.com, furil 03, 2006.

7. Missinn 202O: Delhi Metro Mnust Coaer 40O km'www.thehind.ubusinessline.com, March 23, 2006.

8. Archana Masih, Politicions Know I Cannot be Maneuaered,wuw.red,iff.com, March 10, 2006-

g. Delhi Metrc Chief Srcedharon in US Top 25 Newstnakers List'www-ibef.org, January 12, 2006.

10. How KLG Systel i8 Keeping Tlaak of Delhi Metro Corporation'Mukta Magazine, www.klgsystelcom, 2006'

11. Shekh&r Gupta, For the Record: Tolking with E Sreedharan,www.ind,ianexpress.com, November 18, 2003.

12. DMRC All Set to Complete First Section of Phase III'www-thehind.u.com Ocnber 06, 2005.

13. Urban T?ansit: The Challznges, www.d'eccanherald.com, June 27,

2005.

a "Taking Metro to New Heights", www.hinduonnet.com, April 04' 2005.

Case Folio 83 March 2007

Page 21: ABC

14. Amelia Gentleman, Delhi Delighted with Its New Metro,www.iht.com, March 12, 2005.

15. Bamesh Ramachandran, On the Fast Tlach, www.tribuneind.ia.com,January 02, 2005.

16. Delhi Metro Rail...2,iOO Less Buaes on Roads!www.indiainfoline.com, January 03, 2003.

17. RC Acharya, Nl Set for Delhi Metro Flag-off,w w w. thehindubusine s sline. com, December 2 3, 2002.

18. Delhi Metro o Sytnbol of Indo-Jopanexe friend.ship,www.cities,expressindia,com, December 25, 2002.

19. Ajita Shashidhar, Delhi Metro b n tise Funds through RealtyDevelopment, u)wu.blonnet,com, November 04, 2002.

2 0. ww w. d.el himetrot(til.con

21. www.urbantransit.net

22. www.irfca.org

23. www.blonnet.com

24. www.wikipedia.com

25. www.pbworld..com

Reference # 14M-2007-03:06-02

Form lV

1. P{aceotpublicatjon i Hyderaba.l2. Penodicjtyofibpublicalign : Monil&3. RintelsNam€ : ENMunhy

Naiionali9 : Indian(a) Whetha a citizen oflndia? : Yes

Addre$ : # 52 . Nagarjuna Hils,hnjasutta. Hyd€rabad - 500 082.

4 Publisha'sNarne : ENMunhyNaiionality r lnd'an

{a) Whether a ciiten oflndia? : YaMdr6s i # 52 , Nagarjuna HiIs.

hnjasutta. Hydenbad - 500 082.

5 EditolsName : ENMurthyNaiionaliiy : lndian(a) tvheiha a citiren oflndia? : Yes

Addre$ : # 52, Nasarjuna Hi[s,hnjasutta. Hyderabad - 500 082.

6 Name and address€s of indi./iduals who own the newspap€r and holding more than one perc€nt of ihe toiat

capital - The lnstitute ot Chart€r€d Financtal Analysls ol lndla, The lcfai Univ€Gity,# s2, Nasadlma Hllls, Pantagutfr, Hyd€rabad - 5O0 082.

I, E N Munhy. heretnj dsclare fiat the padiddaG gi\€n above are true to the best oi my knov,ledse and b€Ief.

Date

March,2007

sd/-Signature of Publlsher