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...