Kochi: The Vytilla Mobility Hub Society (VMHS) has formally entrusted the Kochi Metro Rail Ltd (KMRL) for a detailed project report for its Rs 430-crore second phase. “A meeting between the VMHS and the KMRL officials will be convened in a week to discuss requirements and facilities to be included in the second phase. We’ve already made it clear that the thrust should be on passenger amenities rather than commercial space,” said a senior VMHS official. The VMHS would hand over study reports as to the total number of buses at present and expected passenger bus traffic by 2025.
“We’ll provide data such as the number of travellers, destinations of bus services, total area available and the expected traffic in another ten years,” he said. The meet will also finalise the terms and conditions while availing the loan offered by French development Agency Agence Francaise de Developpement (AFD) to fund the project. Sources said the AFD had offered loan at an attractive interest rate of 1.35 percent and a repayment window of 20 years after a five-year moratorium. The previous UDF government had approved the proposal for implementing the project on a PPP (public-private-partnership) model, but the same was shelved upon receiving a lukewarm response from private parties following concerns over the project viability.
The governing body had decided to make the second phase development more transportation-specific rather than commerce-centric. “The earlier plan to construct a multi-storied commercial complex was shelved,” the official said. The authorities aim to complete the second phase before the Kochi Metro starts operations in the section. As per the earlier plan, the Phase-II involves the construction of 120 bus bays and an underground parking bay for 1,000 two-wheelers and 800 cars among others. A total area of 25.16 acres was earmarked for the second phase.
