AFD clears Rs. 1,300-cr for Kochi metro

Injecting a major funding booster to the Kochi metro project, the Director Board of French funding agency Agence Francaise de Developpement (AFD) in a recent move has approved a €175 million (Rs. 1,300cr) loan for Kochi metro's 11 km-long Kakkanad extension, which entailed a total investment of Rs. 2,577cr. In this connection, the decision was taken at a recent meeting. Out of the total funds, around Rs. 215-cr will be spent to improve pedestrian and allied infrastructure around 22 metro stations and along M.G. Road to develop Aluva, Edappally, and Vyttila junctions and also to introduce non-motorized modes of transport like bicycles. The metro's Kakkanad extension takes off from the Jawaharlal Nehru International Stadium, reaches Collector office junction and has the terminal station on the road leading to Infopark. The AFD had accorded in- principle approval for the loan in 2015 and had earlier sanctioned Rs. 1,500-cr loan for metro's Aluva-Pettah Phase-1 corridor, said an official spokesperson.