Kochi Metro Rail gets Public Investment Board's approval

Kochi Metro Rail, has received the central Public Investment Board's green signal paving the way for the Union Cabinet to give final nod to start the work.

The PIB's approval means that the project has crossed a major hurdle.Now what remains is the Union Cabinet's clearance and finalisation of agreement for financial aid from Japanese aid agency. That would be taken earliar.

According to government sources, central nod was only a formality as the project was as good as approved since the Union budget had earmarked Rs 60 crore for it.

Similarly, the state budget, presented earlier this week, had set apart Rs 150 crore for the project.