Kochi Metro looking for private players

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The Kochi Metro project, financed mainly by the Union and state governments and with borrowings from the Japan International Cooperation Agency, is also open to private participation, according to principal advisor, E. Sreedharan.

“Private participation can be in the form of suppliers’ credit, the lend-lease route, or in the operation and maintenance of Metro services,” he said, speaking at the Emerging Kerala meet here on Thursday.

Revealing that giants like Toshiba of Japan and Bombardier of Canada had already shown keen interest in investing in the Metro, he said they had written to the authorities offering to be a part of it. “The basic civil infrastructure will , however, be funded by the government," he explained.

While the Centre is investing Rs 1,002 crore in the project, meeting about 19.3 per cent of its cost, the state government is investing Rs 2,009 crore, accounting for 38.7 per cent of the cost.

The balance will be financed through borrowings, mainly from the Japan International Cooperation Agency which has agreed to fund the Metro to the tune of Rs 2,170 crore.

Noting that the state would require around Rs 10 lakh crore to finance its infrastructure projects over the next five years, Mr Sreedharan suggested the government extend viability gap funding, and give tax concessions and remissions as incentives for investors.

Ahamed for fewer stops for trains

Minister of State for External Affairs E. Ahamad on Thursday demanded that the railways reduce the halts for express trains in the state to pare the travelling time.

He pointed out the High speed rail corridor project is a long-term solution but measures should be taken immediately to reduce the time to cover the three major cities.

“It should be made such a way that the trains should stop only at Kottayam after leaving from Thiruvananthapuram, then at Ernakulam. It should run nonstop from Ernakulam to Kozhikode.

More MEMU services should be introduced to help people reach the small stations,” he said, during a section on ‘infrastructure development’ at the Emerging Kerala meet.

He rued that the rail network in the state has much to improve that has resulted more traffic on the road. “The PPP model should be implemented in railways too for quick infrastructure developments,’ he noted.