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Showing posts with the label KRTL

Light Metro dreams stuck in red tape

THIRUVANANTHAPURAM: The Light Metro Rail, a major infrastructure project for the development of the capital, is stuck in the red tape with the Finance Department yet to give a final approval for the revised Detailed Project Report (DPR). The DPR was submitted by Delhi Metro Rail Corporation (DMRC) as per the new metro policy last December. Though the DMRC has withdrawn from the project, the state government proceeded with it finding new consultants. But, the tender process to identify a new consultant has not yet begun leaving the project in a complete deadlock. The Finance Department is sitting over the file for the past nine months sources said. As per the new policy, it’s the respective state governments that should submit the request for approval. Kerala Rapid Transit Corporation Ltd (KRTL), the Special Purpose Vehicle formed by the state government for the implementation of Thiruvananthapuram and Kozhikode Light Metro projects, has been entrusted with the...

Light Metro project cost in Kerala goes up by ₹700 crore

Kerala: The cost of placing the ambitious Light Metro along 35.12 km in Thiruvananthapuram and Kozhikode has increased by ₹ 700 crore from ₹ 6,728 crore with the addition of parameters such as the transport-oriented development plan, financing of value capture and public-private partnership (PPP) in the new policy of Metro Rail. The Internal Rate of Economic Return (EIRR) of 17.99% for the Thiruvananthapuram project and 17.39% for Kozhikode have also risen according to the elaborate Project Report (DPR) ‘prepared’ prepared by Delhi Metro Rail Corporation (DMRC) as Senior Advisor, DMRC, E. Sreedharan. The collection of automatic fares and the operation of elevators and escalators in light metro stations in the two cities were included in the PPP mode in the “DPR Supplement” submitted to the Chief Secretary K.M. Abraham, Principal Secretary, Department of Public Works, G. Kamalavardhana Rao, and Kerala Rail Transit Ltd (KRTL), the special purpose vehicl...