Water transport sector likely to get Rs. 624-crore German loan.

The greater Kochi region is likely to get a Rs. 624-crore German loan in a year to develop its waterway network, including Rs. 200 crore to purchase fast, fuel-efficient ferries.

Another Rs. 200 crore will be spent on establishing or improving road connectivity to existing and proposed ferry terminals in the region. The rest of the funds will be used for dredging, building and renovating jetties, and introducing feeder buses from boat jetties. The possibility of developing a 'water corridor' dedicated for water transport too would be explored so that boats could travel at 12 knots (20 km per hour) speed, said Elias George, managing director of Kochi Metro Rail Limited (KMRL) and chairman of Kochi’s Unified Metropolitan Transportation Authority (UMTA), following discussions with a three-member team from German Development Bank KfW (Kreditanstalt für Wiederaufbau) here on Friday.

This was the German team’s first appraisal visit to the city. Addressing media persons, Heiko Warnken, head, Economic Cooperation and Development of German Embassy in India, said the team was very impressed with the holistic concept of integrating water transport with other commuting modes such as buses and metro rail. 'The concept presented before us is attractive, innovative and sustainable. Under this, existing ferries will be replaced with modern, solar-powered ones with WiFi connectivity. Integrating with other transportation modes will enhance the quality of life of commuters,' Mr Warnken said. Felix Klauda, head of division, Urban Development and Mobility - South Asia, KfW, said both German funds and expertise would be available for the project.

On how fast the German soft loan could be availed, Mr. George said a draft detailed project report (DPR) on boosting inter-modal transport was ready.

'A final DPR will be readied shortly and sent to the State’s Finance and Transport departments and later to the State Cabinet. This will then be forwarded to the Union government’s Urban Development and Finance Ministries. The German loan will be ready in less than a year, provided the government clearances are ready. KfW's Board and German government too must approve the loan,' he said.


THE HINDU