The Monorail service will be inaugurated on February 1 by Maharashtra Chief Minister Prithviraj Chavan here and the commercial operations will begin from the next day, Mumbai Metropolitan Region Development Authority (MMRDA) chief UPS Madan told reporters here today.
The Rs 3,000 crore mono rail project is being implemented in two phases. The first phase comprises the 8.9 km long Wadala-Chembur section, which will be thrown open to the public on Saturday while in the second phase the services will be extended to Sant Gadge Maharaj Chowk in South Mumbai.
The Authority has fixed fares between Rs 5-11 for the first phase of operations, he said adding that MMRDA will operate six trains in the first phase, and another 10 will be added in the second. To begin with, the services will operate with four coaches having a combined carrying capacity of 2,300 passengers at every 15 minutes, Madan said.
"We aim to provide a service at every four minutes going forward," he said.
The monorail project has been executed by a consortium of engineering major Larsen and Toubro Ltd (L&T) and Malaysian firm Scomi Engineering and owned and operated by MMRDA.
The monorail is expected to reduce the travel time between Wadala and Chembur by almost half, from 40 minutes at present to nearly 21 minutes. MMRDA has already spent Rs 1,900 crore of the Rs 3,000 crore allocated for the project, Madan said adding, "the civil work on the second phase of the project has been completed."
Larsen stock price
On January 30, 2014, Larsen and Toubro closed at Rs 980.20, down Rs 12.95, or 1.3 percent. The 52-week high of the share was Rs 1152.40 and the 52-week low was Rs 678.10.
The company's trailing 12-month (TTM) EPS was at Rs 51.41 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 19.07. The latest book value of the company is Rs 272.74 per share. At current value, the price-to-book value of the company is 3.59.
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