PIB nod for Kochi Metro project

Thursday, March 22. 2012: The Public Investment Board (PIB) has given clearance for the ambitious Kochi Metro Rail project.
Now, it will be presented before the Union Cabinet for approval. The Metro Rail authorities hope that the project will get the Union Government’s clearance soon.
The State budget presented on Monday had made an allocation of Rs 150 crore for the project. Metro officials pointed that this allocation would help in speeding up the land acquisition process.
The capital-intensive project, which is expected to give a thrust to the infrastructure development of the city, is likely to be implemented in line with the Chennai Metro Rail project. Apart from the Centre and State funds, the remaining amount will be raised as loan from the Japan International Cooperation Agency.