Case study 04-Lenders Independent Engineer Services for DMRC Phase III packages

DMRC Phase III Packages

While both the projects were in advanced stages of completion, the existing liquidity crisis faced by the Company made execution of the balance works a challenging task. Further, the Bank Guarantees (BGs) extended by the Lenders were at risk considering possible invocation by DMRC on account of non-performance.
 
The Company requested the Lenders to provide short term overdraft facilities to fund the cash shortfall for completing the balance works. In this context, as Lenders Independent Engineer, iValue is assisting in
 
  • Project Monitoring
  • Monitoring of Project Cash Flows.
  • Review of Construction Program
  • Monitor the project on a daily basis
  • Negotiate with the suppliers and review all the expenses at the project site
  • Review the amount of bills raised and work certified by the Authority vis-à-vis the projections
  • Review the end use of the loan facilities proposed to be disbursed for the completion of the project

Comprehensive monitoring undertaken by iValue has ensured that while one of the packages has already achieved completion, the other package is expected to attain completion shortly

KEY PROJECT HIGHLIGHTS:

2 packages of Delhi Metro Rail Corporation (Phase III) for CC18: Design & Construction of Tunnel, Tunnels Stations and Ramp between Motibagh and Lajpat Nagar (Both Excluding) for Underground works on Mukundpur CC23: Design and Construction of Tunnel between Hauz Khas station and Kalkaji Mandir Station, Tunnel near Chirag Delhi & Kalkaji Mandir Stations and Underground Ramp beyond Kalkaji Mandir Station, Underground Metro Station at Panchsheel Park, Chirag Delhi, G.K. Nehru Enclave & Kalkaji Mandir on Janakpuri West-Botanical Garden Corridor of Delhi MRTS Project Phase 3
Project awarded by DMRC to JV comprising Pratibha Industries and FEMC (a Russian infrastructure company)
Strategically important and time-sensitive packages, involving major structures and stations of Phase III
Length of 6.39 kms and 5.99 kms in case of CC-18 and CC-23, respectively with a construction period of 42 months