Sreedharan added that the major apprehension raised regarding the project was the funding
Delhi Metro Rail Corporation principal advisor Dr E. Sreedharan during an interactive programme organised by Malabar Chamber of Commerce in Kozhikode on Saturday. (Photo: DC)
KOZHIKODE: The state government should show interest in fulfilling the light metro projects proposed in Thiruvananthapuram and Kozhikode, said Delhi Metro Rail Corporation Principal Advisor Dr E Sreedharan. He was addressing the gathering during an interaction programme organised by the Malabar Chamber of Commerce in Kozhikode City on Saturday.
He added that the political leadership in the state was very keen on the project but bureaucratic apathy was creating unnecessary obstacles in the completion of projects.
“Light metro system is cost effective and easy to implement and operate. Completion of light metro in the two cities is not a big challenge. However, someone should take it up and move it with courage,” he said.
Sreedharan added that the major apprehension raised regarding the project was the funding.
“DMRC had submitted the detailed project report to the state government in October, 2014. About 10 months have gone since without much progress. Now Japan has come forward and are willing to fund the project but the government remains uncertain,” he added.
Spelling out details on various aspects of the proposed loan from Japan International Cooperation Agency, Sreedharan said that it would lessen the burden on the government.
“JICA has recently diluted the conditions. The payback time for the loan taken is 40 years including a 10-year moratorium. The interest is only .3 per cent. Though JICA officials are willing to fund 100 per cent, I suggest we should take 85 per cent loan and the rest of the 15 per cent should be equally incurred by the state and centre,” he said.
( Source : deccan chronicle )
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