The Hindu : Front Page : Change of metro-rail alignment termed not feasible

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Tuesday, Aug 12, 2008
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Change of metro-rail alignment termed not feasible

Staff Reporter

KOCHI: Any change of alignment in the elevated light metro-rail proposed for Kochi would steeply escalate the cost and further delay the project, the Secretary in the Union Urban Development Ministry, M. Ramachandran, has said.

He was addressing mediapersons in Ernakulam on Monday, after reviewing the preliminary work on the project. Answering a question posed by a journalist on opposition from some merchants to the M.G. Road alignment, he said the Delhi Metro Rail Corporation, the project’s implementing agency, gives utmost importance to the number of passengers the project would benefit.

Laying underground rails would double the project cost which has been estimated around Rs.3,000 crore.

“The corporation has the expertise and wherewithal to suggest the best alignment, and keeps in mind the number of passengers during peak hours and at other times. This is because it has to generate the funds for operating the system. One has to consider the socio-economic and environmental benefits of metro-rail.

Accidents too will fall once the system becomes functional. In Delhi, the DMRC has been running feeder buses to and from metro stations for the convenience of passengers. There is no doubt about the financial viability of the Kochi project.”

As of now, the State government has promised that the preliminary work for the project would be taken up as soon as possible.

The State prefers a joint venture project, with the State and Centre pooling in equity in a 15:15 ratio. Similarly, the two entities could pool in funds on a 10:15 ratio for subordinate debts (like land acquisition and tax).

The balance 45 per cent amount could be raised as a loan from the Japan Bank for International Cooperation (JBIC).

Mr. Ramachandran said the Urban Development Ministry has recommended to the Planning Commission to take up the project without delay. “The Commission has been giving much emphasis to improving public transport in cities and has to look for resources for the equity partnership in the Kochi metro-rail project.

A unified metropolitan transport authority is required in large cities, so that the different modes of transport, roads and parking are taken good care of.”

The advantages of taking a loan from the bank is that there is an initial moratorium period on the repayment of loan. The interest rate is also low.

District Collector M. Beena said land acquisition procedures will continue, despite protests from some merchants along M.G. Road. K.R. Jyothilal, Transport Secretary and Mayor Mercy Williams were also present.

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