The Capex year to year break up for AMEL is given below

Total Cost
(Escalated
price
Land Construction Total without
Year Cost cost cost Escalation taxes) Taxes
2006 190 2050 2240 0 2240 320
2007 180 7330 7510 370 7880 1220
2008 8500 8500 870 9370 1490
2009 8500 8500 1340 9840 1560
2010 2050 2050 440 2490 400
2011 880 880 240 1120 180
Total 370 29310 29680 3260 32940 5170

Alternatives D:E
Phase 1 Model 7:03
PPP 1 Model 3:2 + Viability gap funding

There are 3 models of financing:

Phase 1 model: -

Project cost Debt Equity Tax Rate

38110 70% 30% 30%
Rides
Fare Rides 2011 Rides 2021 Growth
100 42500 86000 6%
Year 2006 2007 2008 2009 2010
Ridership 0 0 0 0 0
Revenue 0 0 0 0 0
O&M 0 0 0 0 0
EBITD 0 0 0 0 0
Depreciation 0 0 0 0 0
Intrest 2667.7 2667.7 2667.7 2667.7 2667.7
Tax 0 0 0 0 0
Investment -2560 -9100 -10860 -11400 -2890
Free cash Flow -2560 -9100 -10860 -11400 -2890
Discounted cash flow -2560 -8387.1 -9224.08 -8925.15 -2020.41
NPV ₹ -23,227.33
IRR
Fare for which NPV is ze 227.75
PPP Viability model: -

Project cost Debt Equity Tax Rate

38110 67% 33% 30%
Rides O&M Growth
Fare Rides 2011 Rides 2021 Growth rate
100 42500 86000 6% 7%
Year 2006 2007 2008 2009 2010
Ridership 0 0 0 0 0
Revenue 0 0 0 0 0
O&M 0 0 0 0 0
EBITD 0 0 0 0 0
Depreciation
Intrest 2553.37 2553.37 2553.37 2553.37 2553.37
Tax 0 0 0 0 0
Investment -2560 -9100 -10860 -11400 -2800
Free cash Flow -2560 -9100 -10860 -11400 -2800
Discounted cash flow -2560 -8387.1 -9224.08 -8925.15 -2020.41
NPV ₹ -23,292.49
IRR
Expacted return of
concessionarie Govt.
subsidy PV subsidy 68937.72307
Fare for which PV subsid 364.74
Fare for which NPV is ze 231

PPP CIVIL model: -

Project cost Debt Equity Tax Rate

14862.9 69% 31% 30%
Rides O&M Growth
38110 Fare Rides 2011 Rides 2021 Growth rate
100 42500 86000 6% 7%
Year 2006 2007 2008 2009 2010
Ridership 0 0 0 0 0
Revenue 0 0 0 0 0
O&M 0 0 0 0 0
EBITD 0 0 0 0 0
Depreciation
Intrest 1025.5401 1025.5401 1025.5401 1025.5401 1025.5401
 Tax 0 0 0 0 0
Investment -2560 -9100 -10860 -11400 -2800
Free cash Flow -2560 -9100 -10860 -11400 -2800
Discounted cash flow -2560 -8387.1 -9224.08 -8925.15 -2020.41
NPV ₹ -23,244.32
IRR
Expacted return of
concessionarie Govt.
subsidy PV subsidy 42590.19668
Fare for which PV subsid 260.9
Fare for which NPV is ze 237.26 90000

8000 800 4000 400

10000 2000 20000 3000
12000 4800 16000 8000
14000 2800 12000 1800
16000 1600 80000 8000
₹ 44,049.90 12000 ₹ 90,056.19 ₹ 21,200.00

₹ 8,196.16 ₹ 14,479.89
investment
100 1 25
2 60
risk free rate of r 3 75
7% 4 80
5 65

year cash flow discounting 14%

1 25 0.877
2 60 0.769
3 75 0.675
4 80 0.592
5 65 0.519
Total cost
(Escalated price
with cost)
2560 14%
9100 15%
10860 16%
11400 16%
2890 16%
1300 16%
38110

38110 40%

9.96%

2011
0
0
0
0
0
2667.7
0
-1300 -38110
-1300 -38110
-733.81610907
 2011 2012
42500 46850
1551.25 1710.03
792.6 848.082
758.65 861.94
3811 3811
2553.37 2553.37

-1300 0
-541.35 861.94
-357.54 523.96

Debt cost
10%
2011 2012 2013
42500 46850 51200
1551.25 1710.03 1868.8
792.6 848.082 907.448
758.65 861.94 961.35
3811 3811 3811
1025.5401 1025.54 1025.54
 -1300 0
-541.35 861.94 961.35
-357.54 523.96 541.75