NEW DELHI: The cabinet on Tuesday gave a green signal to the implementation of Kerala’s long cherished dream project, Kochi Metro. The approval was given at the cabinet meeting convened at Prime Minister’s residence. The project had earlier got the permission from Public Investment Board (PIB) and was waiting for the consent from the cabinet.Kerala Chief Minister Oommen Chandy said the project would be completed in four years. Kochi Metro will follow the Chennai Metro and Delhi Metro models and will be made on a joint venture basis, with 15 % investments each by the Central and State Governments.
The total cost of the Kochi Metro project is Rs. 5,182 crore. The project will also get the backing as loan (Rs. 2,170 crore) from Japan International Cooperation Agency (JICA).
The Kochi Metro will have 26 stations, beginning from Aluva to Petta in Thrippunithura, which covers 25.6 kms. At first, there will be only three coaches, but it will be raised to six.
Since the 15 % investments of Central and State Governments or loan by JICA will not be sufficient for the completion of the project, the state government has to consider schemes suggested by Ministry of Urban Development for raising fund.
Preparatory work is being carried out before the metro construction. Last year, the state government had allocated Rs. 168 crore for the work. An amount of Rs. 119 crore has been apportioned this year.
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