The total project cost of the Kochi metro rail has been revised to Rs 5,537 crore. The project cost was earlier estimated at Rs 5,182 crore and now it has escalated by Rs 355 crore. The KMRL board of directors, which met on Friday, also approved the Rs 1,990.16-crore budget for the current fiscal.
Of the total budget allocation, Rs 251.52 crore was earmarked for land acquisition. The Centre and state governments will pump in Rs 233.89 crore as equity share. During this fiscal, the state government had so far allotted Rs 21 crore for the project and another Rs 79 crore is expected in the coming days.
Long-term loan requirements for the project in the first year is estimated at Rs 392.56 crore.
As per the DPR prepared in 2005, the actual budget of the Kochi metro rail was estimated at `1,800 crore. The board of directors also decided to hand over Rs 30 crore for the construction of a flyover at Edappally. The total project cost for the Edappally ROB is estimated at Rs 180 cr.