PPP fading out of metro rail thts wht research bureau of Project Monitor says. According to them, PPP route cosumes more time to decide the developers. MMRDA is doing away with PPP route for Line 2 of Phase 1 of Mumbai Metro. Likely possibility is that MMRDA will follow Engineering Procurement Construction(EPC explained here) on lines of DMRC. Moreover they further go on saying that Line 3 from Colaba to Bandra(17 Km) fully underground line involves huge cost around 10000 crores for which PPP was not forthcoming.
According to MMRDA official "Thirty per cent of the cost will come from the Centre's viability gap funding mechanism and the state government while 70 per cent will come from Japan Bank for International Cooperation. There is no scope for PPP here."
More details are here.