Central nominee to head reconstituted KMRL

Jul 04, 2012 |

Kochi

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Kochi Metro

With the Union cabinet giving its approval for Kochi Metro, the next step would be reconstitution of the Kochi Metro Rail Ltd, currently a state-owned PSU implementing the project.

The new director board will consist of five representatives each of the central and the state governments and the Union urban development secretary will be the new KMRL chairman while the state can nominate to the managing director.

The Central and state governments would be sharing 15 per cent each of the equity component while 70 per cent would be the debt portion, of which 45 per cent is being contributed by the Japan Investment Cooperation Agency (JICA).

All formal procedures have been initiated to get JICA loan to fund the rail infrastructure. However, it will not be used for land acquisition process scheduled to be completed this year end.

The new company will decide on vital matters like the technology to be adopted and the stages of construction.

The company will then formally ink an agreement with the Delhi Metro Rail Corporation for the construction activities as promised now.

DMRC is entrusted with the preliminary construction activities including the North and South RoB reconstructions.

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