The state government on Monday gave clearance for a detailed project report to be prepared for the high speed rail corridor connecting Thiruvanathapuram and Kasargod with trains running at a speed of 250 plus km per hour.
This was announced by chief minister Oommen Chandy at an all-party meeting, which also agreed in principle with the government decision to continue with the project. The Kerala State Industrial Development Corporation (KSIDC) will be the nodal agency for the project.
The Delhi Metro Rail Corporation (DMRC), which conducted the preliminary feasibility study, has given a positive report.
The chief minster told the meeting that the loan would be raised from Japan International Cooperation Agency (JICA) with an interest of 1.5 per cent (in yen). Each train running along the route will have eight coaches and two trailers with a capacity to carry 817 passengers. The total cost of the project is estimated to be Rs 1,18,000 crore.
The proposed project will be implemented with Japanese technical expertise, which DMRC has approved. Efforts will be made by the government to explore the possibility of technical and financial support from Japan.
The chief minister, while responding to Opposition leader Mr V.S. Achuthanandan’s demand for details of the feasibility report submitted by the DMRC, said that the executive summary of the report would be handed over to him within ten days.
The government had set aside Rs 20 crore in the 2009 budget which was transferred to KSIDC. The chief minister told the meeting that the government has put in place facilities for getting immediate financial clearance from the Central government.
According to managing director of the project, T. Balakrishnan, work on the high speed rail corridor project would start in 2013 and would be completed by March 2020.
