Project Appraisal

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This is all about Delhi Metro Project

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<p>DELHI METROSubject : Project Appraisal Faculty:Prof. M.Zakaria</p> <p>BY: Subhank Modi SS11/13 SPABF9/2/2012</p> <p>1/26</p> <p>DELHI METRO The Delhi Metro is a rapid transit system serving Delhi, Gurgaon, Noida and Ghaziabad in the National Capital Region of India. Delhi Metro is being built and operated by the Delhi Metro Rail Corporation Limited (DMRC). Began operation: 24 December 2002.2/26</p> <p>9/2/2012</p> <p>Market Demand Analysis Delhi, the capital city of India, is one of the fastest growing cities in the world with a population of 13 million . The road length(1340km) is not at par with the phenomenal growth in the number of vehicles on these roads in Delhi.</p> <p>9/2/2012</p> <p>3/26</p> <p>Market Demand Analysis With gradual horizontal expansion of the city, the average trip length of buses has gone up to 13 km and the increased congestion on roads has made the corresponding journey time of about one hour. Delhi has now become the fourth most polluted city in the world.</p> <p>9/2/2012</p> <p>4/26</p> <p>Break down of demand</p> <p>9/2/2012</p> <p>5/26</p> <p>MARKET DEMAND ANALYSIS (PRICE) RITES (1995b) considered four rates per trip: Rs 3, 4, 5, 6 at April 1995 prices and the fare sensitivity of ridership. The main source of revenue of the MRTS system is the fare box collection, which is a product of the total passenger ridership on the MRTS and the fare charged. The financial model consisting of Rs. 5 per passenger trip and an annual fare increase of 7.5 per cent was considered optimal by RITES.9/2/2012</p> <p>6/26</p> <p>Market Demand AnalysisGovt Policy: Planning for the metro started in 1984, when the Delhi Development Authority and the Urban Arts Commission came up with a proposal for developing a multi-modal transport system for the city. The Government of India and the Government of Delhi jointly set up the Delhi Metro Rail Corporation (DMRC) in 1995.9/2/2012</p> <p>7/26</p> <p>PRICES Tourist Card: For unlimited travel over short periods. There are two kinds of cards - 1 day and 3 day. - Value of 1-Day Card: Rs 100 - Value of 3-Day Card: Rs 250 - Refundable Deposit: Rs 50/- payable at purchase (refundable on return of card) Token: - Single-Journey Token: For one way journey - Value will depend on the destination. Valid only on the day of purchase. - Minimum Fare Rs. 8/- and Maximum Fare Rs. 30/9/2/2012</p> <p>8/26</p> <p>Method of Distribution How to use your Token: - Hold your token close to the machine for the gates to open. - At exit, drop a Single-Journey token into the machine. How to use your Smart Card/ Tourist Card: - For entry to the station, please exhibit your travel card at the entry gate for the flap to open. - For exit please exhibit your travel card at the exit gates for the flap to open and to do an exit from the station.9/2/2012</p> <p>9/26</p> <p>9</p> <p>Government Policy The DM had been provided with the following concessions by GOI to make the project viable, namely a) The cost of land equivalent to Rs. 2180 million has been provided as an interest free subordinate loan by GOI/GNCTD to be repaid by the DM. (b) The risk associated with the exchange rate fluctuations is borne by government in case of foreign debt, (c) The DM is exempted from payment of income tax, capital gains tax, property tax and customs duty on imports, (d) The DM is permitted to generate resources through property development over a period of 6-20 years and (e) No dividend is paid on GOI share of equity till the senior debt is repaid fully by the twentieth year.9/2/2012</p> <p>10/26</p> <p>TECHNICAL ANALYSIS</p> <p>9/2/2012</p> <p>11/26</p> <p>7772</p> <p>56341</p> <p>64063</p> <p>11</p> <p>Distribution of Total costsGeneral Establishment Contingencies, 1823 and Consultancy Charges, 5101</p> <p>Total CostEngineering Works Electrical Works</p> <p>Land, 3339Engineering Works, 31327</p> <p>Rolling Stock, 10999</p> <p>Signalling and Telecommunication</p> <p>Rolling StockLand</p> <p>Signalling and Telecommunicat ion, 45049/2/2012</p> <p>Electrical Works, 6970</p> <p>General establishment and Consultancy Charges12</p> <p>12/26</p> <p>TECHNICAL ANALYSIS The Delhi Metro (DM) planned in four phases is part of the MRTS. As of August 27, 2011, the whole of Phase-I and Phase-II are complete, with the network comprising six lines with 142 metro stations and a total length of 189.7 km (117.9 mi) Phases III (112 km) and IV (108.5 km) are planned to be completed by 2015 and 2021 respectively, with the network spanning 413 km (257 mi) by then.[9/2/2012</p> <p>13/26</p> <p>14/26</p> <p>9/2/2012</p> <p>14</p> <p>9/2/2012</p> <p>15/26</p> <p>PHASE 1The 1st Phase consists of 3 corridors divided in to 9 sectionsCorridor Under Ground Corridor Elevated Corridor Grade Rail Corridor Length (Km) 13.17</p> <p>47.43 4.5</p> <p>Total Length</p> <p>65.10 km</p> <p>9/2/2012</p> <p>16/26</p> <p>16</p> <p>PHASE 2The 1st Phase consists of 3 corridors divided in to 12 sectionsCorridor Under Ground Corridor Elevated Corridor Grade Rail Corridor Total Length Length (Km) 8.93</p> <p>42.24 1.85</p> <p>53.02 km</p> <p>9/2/2012</p> <p>17/26</p> <p>FINANCIAL ANALYSIS</p> <p>9/2/2012</p> <p>18/26</p> <p>9/2/2012</p> <p>19/26</p> <p>9/2/2012</p> <p>20/26</p> <p>Net Present Value An estimate of NPEB of the Metro using the first approach and an 8 percent rate of discount is Rs. 432387.5 million while the estimate using the second approach and a 10 percent rate of discount is Rs. 232050.7 million. The estimates of the economic internal rate of return (IRR) corresponding to the first and second approaches are 23.86 and 23.88 percent, respectively.9/2/2012</p> <p>21/26</p> <p>SOCIAL COST BENEFIT ANALYSIS The social cost-benefit analysis of the Metro requires the identification of benefits and the economic agents affected by it. The incremental changes in the incomes of various economic agents: passengers, transporters, public and government and unskilled labour due to the Metro could be estimated by considering the Delhi economy with and without the Metro.9/2/2012</p> <p>22/26</p> <p>9/2/2012</p> <p>23/26</p> <p>9/2/2012</p> <p>24/26</p> <p>24/26</p> <p>SOCIAL COST BENEFIT ANALYSIS Savings in Foreign Exchange due to reduced Fuel Consumption Reduction in Pollution Savings in Time for all passengers using Metro and Roads Savings in Accidents Savings in Vehicle Operating Cost (VOC) due to decongestion for residual traffic Savings in Capital and Operating cost of diverted vehicles Savings in the cost of Road Infrastructure9/2/2012</p> <p>25/26</p> <p>THANK YOU9/2/2012</p> <p>26/26</p>