Water metro gets Rs. 579-cr offshore funds

    Kerala Water Metro Projects
    Out of the total cost of the Kerala Water Metro project of Rs. 747.28cr, German financial firm KFW, has in a recent agreement pledged long-term loan of Rs. 579.71-cr (85 million Euro) to the mega project. The State Government's share in the project is about Rs. 102.30cr. The government intends to source Rs. 65.27-cr through public-private-partnership (PPP) mode. The first phase of the Water Metro project for Kochi city will be ready for commissioning in 2018-19, CM Pinarayi Vijayan said, adding that the project is a part of an integrated transport scheme encompassing the islands in the Kochi backwaters and various points on the Champakkara Canal in the eastern side. The detailed project report (DPR) outlined 16 routes, renovation of 38 boat jetties and 78 modern boats.
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