Kochi: In a change of plans, the '368-crore second phase of the Vytilla Mobility Hub will focus more on setting up of infrastructure to support inter-modal transportation rather than commercial development with the authorities deciding to scrap the plan earlier submitted by consulting agency KITCO. “The revised plan submitted by KITCO will be scrapped. We will select a new agency to prepare the detailed project plan in the next executive committee meet when all the modalities will be discussed,” a senior official of the Vytilla Mobility Hub Society (VMHS) said.
The previous UDF government had approved the proposal for implementing the project on a PPP (public-private-partnership) model and KITCO appointed as Advisors to secure funding. Though the consultancy prepared an initial Rs 450-crore plan, the then executive committee asked the agency to revise it citing “high expenditure”. Ernakulam Collector K Muhammed Y Safirulla IAS, who took charge as the Vytilla Mobility Hub Society Managing Director last week, said a new Executive Committee would be formed and a meet would be held towards the end of this month to decide on key factors such as funding of the Rs 368-crore second phase project.
“Now there are three options for funding – the PPP model, AFD funding or availing loan from a consortium of public banks. A final decision on this will be decided in the Executive committee meet. After that we will decide on the modalities for the Detailed Project Report (DPR),” the Collector said. The LDF government last week had given approval for the reconstitution of the VMHS Executive Committee.
