kerala-news

Kochi Metro likely to get AFD funds

Kochi, Sep 16 : A team from Agency France Development (AFD) will hold crucial talks with officials of Kochi Metro Rail Limited Tuesday to finalise part-funding for the state's Rs.5,180 crore Kochi Metro project, a top state government official said.


The mega project will run a length of 25 km, from Alwaye to Petta in the commercial capital of the state.

A three-member team of AFD officials is expected to finalise the funding which initially was put at Rs.1,000 crore.

According to the official, AFD is likely to consider raising the amount to Rs.1,400 crore, with an interest of just two percent.

"An AFD team was here a few months back. This is their second visit, and they are here to finalise the discussion as their director board meeting is scheduled for November. This matter will come up then. If things go as scheduled, the loan will be available early next year," the state government officer, who did not wish to be identified, said.

AFD is the main implementing agency for France's official development assistance to developing countries.

Work on Kochi Metro commenced in June this year. The entire project is being managed by the Delhi Metro Rail Corporation, with its principal advisor, 81-year-old E. Sreedharan, overseeing every aspect of the work.

Sreedharan has said that the first train would run on this track 1,095 days from the day work started.

KMRL is also talking to other funding agencies for raising much-needed funding.

--IANS (Posted on 16-09-2013)

kerala-news headlines

4 pilgrims drown in River Periyar

IT professional held for killing his paramour's daughter

Estate manager shot dead in Uganda

Zimbabwean woman held with ephedrine

Kerala minister dismisses Left's accusations

Good Friday observed in Kerala churches

Congress heads likely to roll in Kerala

Zimbabwean woman held with ephedrine

Twins undergo first-of-its-kind surgery at AIIMS

NORMAL MS 62 LIFE-KERALA-HOMAGE Kerala pays homage to CRPF constable

Dakshin Maitrey Rally begins

Thiruvananthapuram to host Animation Masters Summit

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014

Comments

Your e-mail:


Your Full Name:


Type verification image:
verification image, type it in the box

Message:

Back to Top