Cabinet clears ₹1,957.05-cr for Kochi Metro Corridor-II
The union cabinet has cleared ₹1,957.05 crore for the Kochi Metro Phase II corridor starting from JLN Stadium to Infopark via Kakkanad. The preparatory works, including road widening of Seaport-Airport Road, for phase II are currently in full swing. The Centre and state governments will pitch in ₹274.90 crore as equity in the project. They will each have a 16.23% contribution through this fund infusion. Similarly, the Union government and the state will provide ₹63.85 crore each (3.77%) as subordinate debt for 50% of central taxes to this part of the project. The loan from bilateral/multilateral agencies forms ₹1,016.24 crore (60%) and the total cost excluding land, resettlement & rehabilitation, etc. will come to ₹1,693.74 crore.
