The only bidder in the second phase of Mumbai metro, a consortium led by Reliance Infrastructure, has bagged contract worth Rs 11,000 crore from the Mumbai Metropolitan Region Development Authority (MMRDA). The company will develop the 32-km stretch under Metro-II project, which is expected to be operational by 2015.

The move will expand the company's total exposure in the country, as it is already developing metro projects in Delhi and Mumbai, up to Rs 16,241 crore. K. P. Maheshwari, Senior Vice-President of Reliance Infrastructure, said: "We have to form a special purpose vehicle for the second line and then sign the concession agreement within 45 days. We are also completing the Mumbai Metro I ahead of schedule, by September 2010."

The project will be implemented on build operate and transfer (BoT) basis by the RIL-led consortium, including the Canada-based SNC Lavolin Inc , Reliance communication and MMRDA. Canada's largest engineering company, SNC Lavolin Inc, is already developing an Algerian city to house 80,000 people.

Reliance Infrastructure is expected to sign a concession agreement within the next 45 days for the project already awarded LOC. An RIL official said: "Out of the capital outlay of Rs 11,000 crore for the project, we will get Rs 2,298 crore as viability gap funding from the MMRDA."