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Cabinet clears ₹1,957.05 cr for Kochi Metro Corridor-II

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Cabinet clears ₹1,957.05 cr for Kochi Metro Corridor-II

The Kochi Metro Phase II corridor, which runs from JLN Stadium to Infopark via Kakkanad, has received approval from the federal cabinet in the amount of 1,957.05 crore. Phase II preparation work is already in full gear, including road widening on Seaport-Airport Road. The project will receive equity contributions of 274.90 crore from the federal and state governments. Each of them will contribute 16.23% through this fund infusion. Similar to this, the state and the Union governments will each contribute 63.85 crore (3.77%) as subordinate debt for this project’s 50% share of central taxes. The overall cost, excluding land, relocation, rehabilitation, etc., would be $1,693.74 crore. This is the amount of the loan from bilateral/multilateral agencies, which amounts to $1,016.24 crore (60%) in total.

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