Budget 2014: Kochi Metro Rail gets Rs. 462 cr.

Kochi Metro Rail project has got an assistance of Rs. 462.17 crore in the Union Budget. The allocation is the same as per the interim budget presented on February 17 this year has been retained in this Budget also.

Of this, Rs. 233.43 crore will be given as equity contribution, Rs. 66.95 crore towards interest free subordinate debt and Rs. 161.79 crore towards pass through external assistance (Loan) from Agence Francaise De Developpement (AFD).

Kochi Metro's fund utilisation requirements would be significantly more this year, and we had requested for Rs. 878 crore for this financial year to meet our commitments. KMRL is hopeful that the Union Government will consider our request and enhance the budget allocation for enabling us to meet our project commissioning targets, said Elias George, Managing Director, KMRL.

HBL