SPV formed for Light Metro project for capital, Kozhikode.

Kerala Rapid Transit Corporation Ltd. (KRTL), a special purpose vehicle (SPV), has been formed to execute the Rs. 6,728-crore Light Metro proposed for Thiruvananthapuram and Kozhikode.

The KRT had been formed on the basis of a decision taken on October 24 by the board of the Kerala Monorail Corporation Ltd. (KMCL) chaired by Chief Minister Oommen Chandy.

The board had decided to go in for Light Metro as the monorail project was scrapped in view of the 'prohibitive cost' (Rs. 14,588 crore as against the estimate of Rs. 4,500 crore) quoted by the lone bidder - Bombardier Consortium.

A government notification to this effect had been issued by Secretary, Public Works Department, A.P.M. Mohammed Hanish, Official sources told The Hindu . The government has 'rechristened' the KMCL as KRTL as the monorail had been scrapped.

The Managing Director of the SPV has been given the nod to change the Article of Association and to approach the Registrar of Companies. The KRTL will be under the Public Works Department like KMCL and will execute the Light Metro in 35.12 km in two cities.

The single company for the projects in the two cities had been proposed by Delhi Metro Rail Corporation (DMRC) in the Detailed Project Report (DPR) submitted to the government and waiting approval. The DMRC has said separate companies can be considered after implementation of the project.

The Chief Minister is the chairman and Minister for Public Works V.K. Ebrahim Kunju is the vice-chairman of SPV that is fully owned by the State.

The other board members have been retained. The logo of the SPV will also have to be changed.

The KMCL headquarters near Raj Bhavan here and the project office functioning in Kozhikode will become the headquarters and office of the KRT respectively.


THE HINDU