Cabinet approves MoU on metro

The Cabinet approved the tripartite memorandum of understanding on Kochi Metro project to be signed by the Kochi Metro Rail Corporation, Central government and Kerala government on Tuesday.

The agreement provides for equal equity participation by State and Central governments in the project.

Briefing the media, Chief Minister Oommen Chandy said that it was the first time that the Central government had agreed to equity participation in a Metro project for a city with less than three million population. The norm so far had been that the city should have a minimum population of 3 million for Central participation in the project.