Kochi: Kochi Metro Rail Limited (KMRL) has signed a memorandum of agreement with Bhavanam Foundation Kerala, a non-profit company, for a project that seeks to build alternate housing for the people who are affected by its Integrated Urban Regeneration and Water Transport System project in Kochi.
KMRL managing director A.P.M. Mohammed Hanish and Bhavanam Foundation executive vice-chairman A. Alexander signed the MoU in the presence of chief secretary Tom Jose here. KMRL is the special purpose vehicle of the project being funded by KIIFB. As per the detailed project report, the estimated project cost is Rs 1365.16 crore. It covers Edappally, Thevara-Perandoor, Chila-vanoor, Thevara-Market canals.
The MoU, signed on Saturday, is part of KMRL's efforts to arrange alternate housing for the affected people, Mr Hanish said. "KMRL and BFK will discuss and jointly construct a detailed action plan for covering timelines for land acquisition and for completion of rehabilitation and resettlement process."
KMRL has already signed a tripartite agreement with Coastal Shipping and Inland Navigation Department (CSIND) and Kerala Infrastructure Investment Fund Board (KIIFB) for the execution of an integrated urban regeneration and water transport project. Additional chief secretary Dr Vishwas Mehta and KIIFB CEO K.M. Abraham had signed the tripartiate agreement.
