Despite hiccups significant progress in three years
Picture used for representational purpose. (Photo: DC/File)
Kochi: Even as the Kochi Metro Rail Ltd (KMRL) completes three years, the prestigious Metro Rail project has made significant progress in terms of construction, land acquisition and financial closure, and Phase I of the project is expected to be commissioned by its deadline of mid 2016.
It was on August 2, 2011 that KMRL, the special purpose vehicle for executing the Kochi Metro Rail project, was constituted. However, the KMRL and Delhi Metro Rail Corporation (DMRC) indicate that Phase-I might end at Vyttila due to delay in land acquisition along the Vyttila- Pettah stretch.
In quick time, the KMRL could complete the financial closure of Phase I costing Rs 5181 crore, with a domestic loan from Canara Bank to the tune of Rs 1170 crore and foreign funding of Rs 1, 500 crore (€180 million) from the French funding agency AFD. The French loan is the biggest foreign financial aid ever received by any development project in the state.
Though a major part of land acquisition has been completed, the KMRL authorities are struggling to acquire the remaining 6.8 hectares in 21 locations along the Metro corridor. Of the 40 hectares required, more than 33 hectares have already been acquired.
KMRL managing director Elias George is confident that despite the issues in land acquisition, Metro Phase-I, though up to Vyttila, can be commissioned as per the deadline.
“Construction work along the Vyttila-Pettah stretch has hit a roadblock due to the delay in road widening which has to be taken up by Public Works Department,” he said. Despite the fact that travelling through the Metro corridor has become very difficult, city residents have adjusted to the inconvenience. But, there is resentment over the delay in repairing roads damaged due to the construction works.
( Source : dc correspondent )
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