The state government in Tamil Nadu has recently approved the Phase II development plan for Vyttila Mobility Hub Society wherein the state government has decided to invest ₹118 crore out of the total investment worth ₹590 crore. In regard to financing, there is also an in principle sanction from French funding agency Agence Française de Développement (AFD) to fund ₹472 crore on a long term loan basis and the project is to be completed is two years. In the second phase of development, the VMHS is planning to convert the existing centre to a state of the art Mobility Hub interconnecting various modes of transport. The second phase will cover an area of approximately 26.8 acres and that the Kochi Metro Rail Ltd (KMRL) will be the executing agency of the project.
📅Published on:
07 February 2019
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