The project linking the 25 km Aluva-Pettah stretch will be executed by the
Delhi Metro Rail Corporation. However, it is yet to sign an MoU on the division of work between the two agencies — DMRC and KMRL.
The project is implemented with equity participation from the Centre, which will invest Rs 1,002 crore, about 19.3 per cent of the project costs. The State Government will put in Rs 2,009 crore, 38.7 per cent of the cost. The balance will be financed through borrowings, mainly from Japan International Cooperation Agency which will provide Rs 2,170 crore.
The Board of Kochi Metro Rail Ltd which met here on Tuesday said it will review the detailed project report to examine if the project could be extended to suburbs.
The first phase of the project, a mass rapid transport system, running on elevated light rail covers 25 km, and will have 22 stations. Each Metro train will have three cars initially with a capacity of 200 passengers.
It is pointed out that the proposed project is expected to ease road congestion and enhance the quality of life for the people in the city. With the clearance given by the Centre, the Kochi Metro is expected run by 2016.