The French funding agency AFD has agreed to fund ₹472 crore of the ₹590 crore total cost of the multimodal transit hub project. The Vytilla Mobility Hub Society (VMHS) in Kerala has already submitted its report to the finance department with a mandatory approval for the second phase of the developmental project. AFD will have majority stake while that of the state government is limited to 20 percent for the project. The agency has offered the loan at an interest rate of 1.35 percent and a repayment window of 20 years after a five-year moratorium after the administrative nod from the Local Self Government Department, said official sources. In a related development, the Kochi Metro Rail Ltd (KMRL) has agreed to submit the Detailed Design of the project within two months and is in the process of appointing a Design Consultant. After the first tendering process failed to get adequate response, it has floated a fresh tender and will submit the detailed design in two months, said Managing Director, KMRL, A.P.M. Muhammed Hanish. The DPR is awaiting sanction of the state government whereby the second phase will feature a total of 101 bus bays, multi-level parking for 400 cars, 456 two-wheelers and 50 auto-rickshaws. It proposes a land use pattern whereby 39 percent of the total project area of 25.16 acres will be earmarked for green space, 34 percent for a bus terminal, and 27 percent for road surface.
📅Published on:
18 June 2019
🔗Share:
We Value Your Comment
⭐How useful is this information?
Submitting...
03
Thanks for your rating! ✌️ We’d love to hear more - share your thoughts by leaving a comment
Allcargo Logistics Limited has announced its initiative to enable FMCG companies to navigate increasingly fragmented inventory flows through integrated,
GHV Infra Projects Limited has secured a road construction and civil works contract worth Rs 815 crore from APCO Infratech Private Limited in Maharashtra.
JCB India announced the inauguration of a new facility of its dealer, Caculo Earthmovers in Karaswada, North Goa, further strengthening its presence in the
The Godhra–Vadodara section of the Delhi–Mumbai Expressway has been completed and opened for traffic on a trial basis from April 13, 2026, according to the
The Rajasthan State Industrial Development and Investment Corporation will invest Rs 1,200 crore to upgrade infrastructure across more than 450 industrial
Dubai has completed its first air taxi station near Dubai International Airport, marking a major step toward launching electric air mobility services later
Informa Markets in India is gearing up to host the 23rd edition of Roof India, Asia’s premier exhibition for roofing and allied products, from 23–25 April 2026
NBM Media
30+ years of reporting on infrastructure, construction, architecture, & real estate across print, digital, and social media.
