A sum of ₹239 crore was allotted in the Budget for the Kochi metro’s 11.20-km Kakkanad extension as the State’s share of equity for the extension that is expected to cost a total of ₹1,957 crore.
As per the plan, the State government was to pool in with its equity totalling ₹555 crore, while the Centre was to give ₹339 crore. The Asian Infrastructure Investment Bank (AIIB) was expected to extend a loan of ₹1,016 crore to realise the extension.
Sources in Kochi Metro Rail Limited said they were waiting for the fast release of the budgetary allocation to help kickstart work on the Kakkanad extension’s viaduct, the tender evaluation of which was under way. “We would thus not have to wait till the loan is released,” they added.
