Kochi will now boast of a metro rail service.
The Union Cabinet has approved the public transport project for Kerala’s principal port and business capital.
Incidentally, a proposal for this project was brought before the Cabinet in 2009. But it was deferred due to some objections on the project model from the Finance Ministry and the Planning Commission.
Both of them wanted to develop this on a public-private partnership (PPP) model.
However, the Home Minister, Mr. P Chidambaram, while briefing about the Cabinet decisions, said, “this project will be executed by a special purpose vehicle of the Government of India and the Government of Kerala. The Centre and the State Government will have 50:50 equity in the SPV.”
The total cost is estimated at Rs 5,181.79 crore. It will cover a total length of 25.612 km. There will be 23 stations. It will be fully elevated and will run from Alwaye to Petta on standard gauge. The project will be completed in four years from the date of implementation.
In the total project cost, the Union Government’s share will be Rs 1,002.23 crore while the State will contribute Rs 1,772,23 crore.
The State Government will also bear the state taxes amounting Rs 237.33 crore.
Mr Chidambaram added that the Japanese Government agency JICA will provide an external debt worth Rs 2, 170 crore.
Our Kochi Bureau adds: The project was proposed in 2005 at an actual cost of Rs 2,239 crore. Owing to delay in clearance, the project witnessed a cost escalation. Later a revised DPR was submitted to the Government in 2011 making necessary changes.
With the Centre giving approval for the poject, Mr Tom Jose, Managing Director, Kochi Metro Rail Project Ltd, said in a statement that “a dream is becoming a reality”.
The company aims to complete the project within a span of 3-4 years, he said.
“We are also looking at seamless integration of various modalities of transportation such as rail, water and road, which will be the USP of Kochi Metro for enhancing the quality of life of citizens of Kochi”.
The Phase I of the massive rapid transport system running on elevated light rail covering Aluva-Pettah corridor. Each Metro train will have three cars initially each with a capacity of 200 persons.
With the clerance obtained from the Centre, the Board would be reconstituted of KMRL, as it is a state owned public sector company at present. There is a need to include central government director in the Board. A triprtite agreement between the Centre, the State government and Kochi Metro Rail has to be drawn up.
This model is being followed in Delhi, Chennai and Bangalore metros, the officials added.
The officials also said that over 32 hectres will have to be acquired for metro stations at various locations and to widen roads.