Kochi Metro Rail project’s phase 2 has received the approval from the Union Cabinet, chaired by Prime Minister Narendra Modi on September 7, 2022. The metro project will cover over 11 km and comprise 11 stations. The project will be developed at the cost of Rs 1,957 crore.
The Kochi Metro Phase 2 corridor will connect Jawaharlal Nehru Stadium to Infopark via Kakkanad Junction. According to the government, the preparatory work for the second phase, including road widening for the Seaport Airport Road, is in progress.
Under the Kochi Metro Phase 1A project, the viaduct of 1.8 km from Petta to SN Junction is being implemented as a state sector project at an approved cost of Rs 710.93 crore. Currently, the construction activities related to the metro project have been completed, and the project is ready for inauguration.
Kochi Metro Phase 1 B Project from SN Junction to Thripunithura Terminal, covering 1.2 km, is under construction as a state sector project.
The government has released the funding pattern for Kochi Metro phase 2. Under the plan, the Centre and state governments will allocate Rs 274.90 crore as equity in the metro project, each contributing 16.23%. The centre and the state government will also contribute Rs 63.85 crore each (3.77%) as subordinate debt for 50% of central taxes to the second phase of the Kochi metro project. The loan from multilateral agencies amounts to Rs 1,016.24 crore (60%). The total cost, excluding land, resettlement, rehabilitation, etc., will be Rs 1,693.74 crore.
The other cost components include state taxes amounting to Rs 94.19 crore and interest during construction for loans and front-end fees amounting to Rs 39.56 crore, to be borne by the state. That will also include PPP components like automatic fare collection amounting to Rs 46.88 crore.
