Kochi Metro Rail details to be framed on Friday

Key aspects of the proposed Kochi metro rail like coach capacity and dimensions, and the train formation are likely to be finalised on Friday at the director board meeting of Kochi Metro Rail Limited (KMRL).

The meeting is also expected to approve names for the 22 stations proposed for the metro rail. This is the 12th KMRL director board meeting.

“The board of directors are expected to finalise a funding strategy for availing of a mix of domestic and foreign loans for the funding of KMRL. The board would approve the budget of Kochi Metro for 2013-14 and also approve the tripartite memorandum of understanding to be signed between Union and state governments and KMRL,” said a KMRL official spokesperson.

The construction work of the metro rail will begin on June 7.Last month, a team from French financial institution Agence Française de Développement (AFD) had agreed to  give funding for Kochi Metro Rail Project by December.

AFD representatives are expected to visit Kochi by September and will offer a loan of up to Rs 1,035 crore at 2 per cent interest rate for Kochi Metro Rail.

The total external borrowing requirement of the Kochi Metro Rail is about Rs 2,170 crore and for the remaining 50 per cent of the external borrowing for the project, KMRL is pinning its hopes on the Japan International Co-operation Agency (JICA).

Friday’s board meeting will also make a detailed evaluation of the timeline and schedule for project execution by the Delhi Metro Rail Corporation (DMRC).

It will approve the appointment of Ved Mani Tiwari as director (systems) who will be responsible for rolling stock and signalling-related aspects.

Two new directors will be inducted to the board on Friday. S D Sharma will be the DMRC representative to Kochi Metro Board,  while newly-posted Chief Secretary Bharat Bhushan is the other member.