KMRL cracks Rs. 747-cr water metro project

In order to build the Unified Metropolitan Transport Authority (UMTA) and the seamless integration of various modes of transport such as Metro, buses, and boats, tempting masses to opt for public transport instead of using cars, the Kochi Metro Rail Ltd. has decided to ink tri-party agreement for implementing the Rs. 747-cr Water Metro project. On this score, the state government, KMRL, and KfW, the German funding agency, are inking an agreement to execute the mega project shortly. The project will be implemented in a phased manner and the first phase is expected to be commissioned by the end of December 2017, as the KMRL has already invited tenders for appointing general consultants and would soon begin the process of evaluating them. The project is being financed by the Indo-German Bilateral Cooperation, under the 'climate-friendly urban mobility' plan for which KfW will give financial assistance of 85 million Euros (approximately Rs. 597-cr as a long-term soft loan) and that the state government will provide Rs. 102cr. The integrated water transport also proposes to develop existing and new access roads, jetties; enhance mobility within the islands; and provide infrastructure to ensure safety and security of commuters, said an official spokesperson.

Published: 23 June 2016