KOCHI: The Union government has approved the Rs 741 crore integrated water transport project for greater Kochi mooted by the Kochi Metro Rail Limited and to be funded by the German funding agency. The Department of Economic Affairs passed the project on Friday. The KfW board meeting scheduled for next month is expected to ratify it. The project is proposed to be fully operational by 2019.
The total cost of the project is Rs 741 crore excluding the Rs 72 crore for land acquisition, for which KfW would give financial assistance to the extent of Rs 595 crore (85 million Euro) as a long term soft loan. Rs 102 crore would be contributed by the State government. The project to come under the proposed UMTA (Unified Metropolitan Transport Authority) includes introduction of modern vessels, renovation of boat-jetties, re-development of access roads with streetlights and provision of connectivity between the boat-jetties and the bus and Metro stations.
During Phase I, from 2016 to 2017, operations will be started in seven routes. with a fleet requirement of 43 boats while in Phase II (2018-19), it is proposed to operate all the identified 16 routes with a total fleet requirement of 78 boats.
