KOCHI: The state cabinet on Wednesday approved the Kakkanad extension of the Kochi Metro Rail at an estimated cost of Rs 2016.46 crore.
The 11.2 kilometre new line, with 11 stations, from Jawaharlal Nehru stadium to Infopark at Kakkanad was approved by the Kochi Metro Rail Limited Board of directors in September last year.
As per the detailed project report, the Infopark line will have high ridership with an expected rate of 1.26 passengers per day in 2021 and 1.98 lakh passengers in 2031.
One of the major hurdles for the project, which requires 35.03 square metres of land, will be acquiring plots, especially along the narrow and heavily encroached Palarivattom – Kakkanad Road. Of the total project investment, the state government will provide Rs 300 crore apart from Rs 141 crore for land acquisition.
The union government’s share will be Rs 300 crore while the loan component is Rs 841 crore. KMRL also expects an additional Rs 100 crore from realty development.
The Metro agency has assigned RITES (Rail India Technical and Economic Services) to conduct a feasibility study for extending the Metro Rail to new routes.
The Metro at present has three phases, Aluva – Pettah in Phase I, Pettah – Tripunithura in Phase I A and JN Stadium – Kakkanad in Phase I B.
According to feasibility studies, the Kakkanad line will have a financial rate of return of eight per cent. The French funding agency AFD had also evinced interest in funding the Kakkanad extension.
Civil works along the Aluva – Maharajas College stretch has been progressing at a fast pace and is expected to be commissioned by June next year.
