Delhi Metro takes over operations of Airport Express Link

Delhi Metro on Monday took over operations of the 22.7 km Airport Express Line after Reliance Infrastructure announced its pull out from the service.
Delhi Airport Metro Express Private Limited (DAMEPL), a special purpose vehicle of Reliance Infrastructure blamed DMRC and stated, “DMRC had persistently failed to cure the substantial defects in the civil structure designed and built by DMRC, within the period prescribed under the concession agreement, and on account of material breach and event of default by DMRC arising under the agreement as a result thereof.”  The statement issued by Reliance Infra also adds, “Despite the lapse of 9 months and repeated requests by DAMEPL, DMRC failed to make alternate arrangements for taking over the operations of the metro line, even after the termination of the concession agreement in October 2012.”
“As per the terms of the concession agreement, DMRC is now liable to pay DAMEPL a termination payment equal to 130 per cent of the adjusted equity and 100 per cent  of the debt due for the project, as the termination has arisen owing to DMRC’s event of default,” Reliance Infrastructure claimed.

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