Nod for Rs.741-cr. water transport project.

The Rs.741-crore integrated water transport project mooted in greater-Kochi area by the Kochi Metro Rail Limited (KMRL) got the Centre’s approval recently.

Now, all that is needed for work on the project to commence is the approval of German bank KfW, which is expected to provide a soft loan of Rs.595 crore.

The Department of Economic Affairs under the Union Ministry of Finance has taken up the project with the KfW. It is expected to be considered at a meeting of the Board of Directors of the KfW to be held in February. The project will be financed as per the ‘Climate-friendly urban mobility plan’ of Indo-German bilateral cooperation, says a KMRL press release.

Another Rs.72 crore is required for land acquisition. A total of Rs.102 crore will be contributed by the government of Kerala to the project that aims to introduce 78 modern, air-conditioned vessels in greater-Kochi region.

Boat jetties will be built and existing ones renovated, while road connectivity to the jetties will be improved and street lights installed. Feeder buses and autos too have been envisaged.

THE HINDU