A Japanese-Korean consortium, comprising Mitsubishi, Koros and Mitsubishi Electric, has bagged the order to supply rolling stock for the Rs 8,155-crore Delhi mass rapid transit project. The combine will begin delivery of coaches within 20 months.
The contract was awarded about a month ago. All major tenders for the first phase of the project have been awarded, Delhi Metro Rail Corporation (DMRC) managing director E Sreedharan told Business Standard.
The contract is worth Rs 1,250 crore, part of which will be paid in rupee terms as the last 100 coaches will be manufactured within the country, as per the agreement.
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The Koros-Mitsubishi combine had emerged L1 - or the lowest bidder - when the tenders were opened in August last year. International railway equipment majors ADtranz (now a part of Bombardier group of Canada) and Siemens were the second and third lowest bidders for the contract.
Countering criticism that Koros was under financial duress following the 1997 South-East Asian currency crisis, Sreedharan said the Korean company had managed to turn around and is all set to deliver rolling stock to the Hong Kong metro on June 5.
DMRC had sent a team to Hong Kong to make sure that Koros could be relied on. The officials returned satisfied as the Hong Kong metro, rated one of the world