Kochi Metro extension approved
Estimated to cost Rs 359 cr, will receive Rs 58.11cr for land acquisition
By : DC Correspondent
Update: 2014-10-16 05:04 GMT
Kochi: The state cabinet on Wednesday gave its approval for extending the Kochi Metro Rail to the temple town of Tripunithura in Phase I.
The project, estimated to cost Rs 359 crore , will receive Rs 58.11 crore for land acquisition from the state government and raise the remaining Rs 300.89 crore from domestic and foreign financial institutions as loan. The French funding agency, AFD, has already offered a loan to Kochi Metro Rail.
According to Metro Rail sources, the proposal for the Tripunithura extension was sent by the state government to the Centre for its approval sometime ago. And when the Centre sent the proposal back asking for features like a non-motorised transport system, cycle track and footpath to be incorporated , the proposal was revised.
The extended line from Pettah to Tripunithura will have two stations enroute, one near Alliance Junction and the other at SN Junction.
The initial project cost of Rs 323 crore was jacked up to Rs 359 crore with the revision and inclusion of feeder facilities. KMRL is confident the revised proposal will meet with the approval of the Union government.
“There are unlikely to be any hurdles in the Centre clearing the project. KMRL has the funds and also the loans necessary for building the extension,” said Mr Elias George, KMRL managing director.