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Agence Francaise de Developpement clears loan for Kochi metro phase-II

Elias George said that KMRL would start implementation of the project even before the release of French funds.

KOCHI: The French funding agency Agence Francaise de Developpement (AFD) has formally agreed to provide financial assistance for the Kochi Metro Phase II development. A four-member AFD delegation who was on a two-day visit in Kochi to review Metro Phase I, has expressed complete satisfaction over the progress of work.

“We are committed to offer new investment for Phase II and the city and junction improvement initiatives. The proposal will be submitted before the Board and we plan on drawing up and approving a formal agreement for funding the '100 crore city and junction improvement project by early 2017,” said Mr. Nicolas Fornage, director, AFD regional office, Delhi.

“Since our last visit in April this year, there has been a great deal of progress with regard to Metro construction and we were even able to carry out a trial run of the coaches on potential routes. We are confident that the commercial operational deadline will be met,” he added.

Meanwhile, the Jawaharlal Nehru Stadium – Infopark line proposal to be carried out in Phase II needs to be cleared at three major levels, said Kochi Metro Rail Limited managing director Elias George. “The pre-Public Investment Board, the Public Investment Board and the Cabinet have to clear the proposal. The pre-PIB meeting is likely to consider the proposal in August,” he said.

The KMRL chief added that Kochi was going to witness a series of dynamic development initiatives worth Rs.11, 000 crore in the next couple of years. “Of this, Rs.9000 crore is exclusively for mobility improvement. For such big projects involving a huge investment, we require the technical support of international agencies like CODATU. Metro Phase I and Phase II, Water Metro, Smart City Mission are some of the initiatives which would dynamically improve the city’s basic infrastructure including mobility,” he said.

Regarding the city and junction improvement, Elias George said that KMRL would start implementation of the project even before the release of French funds. “Major junctions like Aluva, Edappally, Vyttila and Palarivattom will be improved with the technical support of CODATU. As KMRL will comply with the AFD norms, the funds can be received after completion of the project,” he said.

( Source : Deccan Chronicle. )
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