Agence Francaise De Developpement decision on Kochi Metro funding tomorrow
KOCHI: The director board of the French funding agency Agence Francaise de Developpement will take a final decision on funding the Kakkanad extension of Kochi Metro on Thursday. The board meeting to be held at AFD headquarters will make the formal announcement, said Alexandre Ziegler, Ambassador of France to India. He was speaking to media persons here on Tuesday after holding discussions with Kochi Metro Rail Limited top officials on the progress of Metro Phase I works. Mr. Ziegler expressed satisfaction over the works and said that among the Metro systems in the world being funded by AFD, Kochi Metro is the cheapest.
“Kochi Metro is one of the biggest projects funded by AFD for which it is providing technical support as well,” he said. AFD has offered to provide funds to the tune of Rs 1,350 crore for the Metro Kakkanad extension and allied urban development programmes. AFD will be providing Rs 161 crore for city improvement projects including Rs 100 crore for development of 22 stations, Rs 30 crore for development of Aluva, Edappally and Vyttila junctions and Rs 31 crore for other urban places carrying out initiatives like walkway development. The estimated cost for the Kakkanad extension is Rs 2,100 crore.
Meanwhile, KMRL MD Elias George said that alternative revenue sources have to be identified to make the Metro financially feasible for which realty projects like the Metro Township at Kakkanad and Metro village at Muttom have been proposed. “Only 10 Metros in the world are running on profit,” he said. “Tenders have been invited for environmental impact assessment of the Metro Village at Muttom. Based on the report, a master plan will be prepared. The appointment of the consultancy firm for the KfW funded water Metro project will be completed in a month,” he added. Nicolas Fornage, Regional Director for South Asia - French Development Agency (AFD) was also present.
