Kolkata, November 26, 2008: Project today reported that Andromeda Technologies is planning to set up India's first monorail in Kolkata at a total outlay of INR 1,200 crore.
As per report, it has received permission from the West Bengal government to start a monorail that will cover a stretch of 20 kilometers from Budge Budge to Taratala. Construction work is likely to begin by March 2009 and is scheduled to be completed by 2011.
The monorail, which will have four coaches, each with its own electric generator and the capacity to accommodate 150 passengers will be based on hybrid technology.Of the total funds, INR 1,000 crore will come through debts from non resident Indians and INR 200 crore the equity component is expected by the end December 2008 from a foreign partner.
Derap AG and Helbing Tecknik AG of Switzerland are the technical partners of Andromeda in this monorail venture.The first 6 to 12 coaches of the monorail will come from Germany, after these, coaches will be made in India. The company is in talks with Titagarh Wagons and Texmaco for manufacturing the coach.
Bangladesh and other parts of India, such as Delhi, Pune, Patna, Bhubaneswar and Guwahati have also envinced their interest in setting up the monorail system.