Delhi Metro Rail Corporation Ltd (DMRC) has been entrusted the task of implementing the Kochi Metro project.
A decision to this effect was taken at a meeting of the board of directors of Kochi Metro Rail Corporation held here today.
Mr E. Sreedharan, former chief of DMRC, was among those who attended the meeting at the State Assembly complex here.
The meeting also decided to reconstitute the board of Kochi Metro, giving equal representation to the State and Central Governments.
This is sought to be done based on the Chennai Metro, which is under implementation now.
Representative of the state government would be the managing director of the re-constituted board, according to Mr Aryadan Muhammed, State Minister for Transport.
Meanwhile, Mr Sreedharan has requested the state government to expedite the tying up of funds from the Japan International Cooperation Agency.
He has also excused himself from taking up any formal position with the Kochi Metro. He would like to be associated with the DMRC in the role of an advisor.
EQUAL SHARE
The central government’s share in the project will be Rs 1,002.23 crore and that of the Kerala government at Rs 1,772.23 crore.
External debt (from JICA) will be Rs 2,170 crore and state taxes Rs 237.33 crore.
Earlier last week, the Union Cabinet had given its approval for the Rs 5,181.79-crore project in Kochi, whose network will cover 25 km and feature 23 stations.
The project is scheduled to be completed in four years. It will be fully elevated and will run from Alwaye to Petta on standard gauge.