A Union Cabinet meeting, chaired by Prime Minister Narendra Modi, on Wednesday approved Phase-II of the Kochi metro rail project from Jawaharlal Nehru Stadium to Infopark via Kakkanad at a cost of ₹1,957.05 crore.
The preparatory works for Phase-II, 11.17-km long having 11 stations, including widening of Seaport Airport Road, “are progressing well”, a government statement said. It added that Phase-I of the project from Aluva to Petta, covering 22 stations over 25.6 km, at an estimated cost of ₹5,181.79 crore was fully operational.
“The metro’s phase 1A, the 1.8-km Petta-SN Junction metro viaduct, was commissioned by Mr. Modi a week ago. The project is being implemented as State sector project. Presently, all construction activities related to the project are over and the project is ready for inauguration. Kochi Metro Phase 1B project of 1.20 km from SN Junction to Thripunithura Terminal is under construction as State sector project,” it said.
For Phase-II, the Union and Kerala governments would each provide 16.23% of the total cost or ₹274.90 crore each, while 60% of the amount would be in the form of a loan from bilateral or multilateral agencies, according to the statement.
The Union government and the Kerala government each would give 3.77% of the cost in the form of “subordinate debt for 50% of Central taxes”.
