Published On:October 18 2014
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Concerns over metro's extension allayed.
With the State Cabinet recently granting administrative sanction to the revised DPR (Detailed Project Report) on the extension of first phase of Kochi Metro, all concerns over the Tripunithura extension of the project have now been laid to rest.
The project envisages extension of the metro up to S.N. Junction in Tripunithura from Pettah. The project will now cost Rs. 359 crore as against Rs. 323 crore estimated earlier. The State government will provide Rs. 58.11 crore while the balance will be raised as credit from banks or public debt. 'The original DPR, which had been earlier cleared by State government, was revised following a direction by the Union Ministry for Urban Transport to include provisions of non-motorised transport development such as foot paths,' said an official with the Kochi Metro Rail Limited. The State Cabinet had in March this year given its nod for metro's Tripunithura extension with a station at Alliance Junction and a terminal station at S.N. Junction
On the source of funds, officials said KMRL had already got additional money for the extension. 'While the originally envisaged external funding was for Rs. 2,170 crore, our overall loan component now stands at Rs. 2,690 (Rs. 1,170 crore from Canara bank and Rs. 1,520 crore from AFD). This, along with the savings that we have, will be sufficient to carry out the extension,' officials said, adding that the cost of land acquisition would be met by the State government.
This 2-km extension aims at improving the project's viability through enhanced passenger patronage as it will considerably benefit people from Kottayam, Thodupuzha, Muvattupuzha and other towns, who can walk across to the metro station from the adjacent railway station and a new bus stand envisaged nearby.
THE HINDU