KURTC seeks loan from German bank

KOCHI: The newly-formed Kerala Urban Road Transport Corporation  has submitted a development proposal worth Rs 332 crore to the German government bank, KfW (Kreditanstalt für Wiederaufbau),  which expressed interest in funding the modernisation of KURTC.  

The  transport department  submitted the proposal during a discussion held between Transport Minister Thiruvanchoor Radhakrishnan  and the KfW delegation in Thiruvananthapuram.

“It focuses on modernisation of KURTC and the development of an integrated transport system. The major proposals submitted are construction of new bus terminals, garages, procurement of buses and IT development. The infrastructure development is specifically for the Kochi urban agglomeration area, including places in other districts like Chalakkudy, Guruvayur, Thrissur, Cherthala and Angamaly,” said Mr Antony Chacko, KSRTC chairman and managing director, who also heads the KURTC.

The KfW’s offer of  financial assistance will give a  push to the KURTC which exclusively caters to urban areas and manages over  400 low-floor buses purchased with the  assistance of the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).

The German bank team was in the state on a final appraisal mission before approving the €70- million, (approximately '680  crore) loan for water transport development projects in Kochi and suburbs.

“Since proper integration of various modes of transport is crucial for the feasible operation of Kochi Metro project, the KfW officials have expressed interest to fund the development of KURTC which will act  as a feeder service. The funds will be exclusively for the modernisation of buses and infrastructure development tin Greater Kochi areas,” added the KURTC CMD.  

Once the proposed Unified Metropolitan Transport Authority is introduced, the integrated transport system will be operational with a single ticket, single command and control and single time table.