Every effort must be made to complete works and get safety clearances so that Kochi Metro can be commissioned as per schedule by November 1, which in itself is a tough target, Nicolas Fornage, Regional Director (South Asia) of French funding agency AFD (Agence Française de Développement) has said.
Addressing mediapersons after inspecting the metro and related works here on Thursday, he said significant progress had been made during the past year. He expressed contentment at the project nearing completion without big delays and cost overruns.
On the contrary it is an achievement that stakeholders could save a few crores of rupees on the project cost. The funds could be used for a small extension (towards Tripunithura, from Pettah), he said.
The AFD is expected to provide approximately Rs.1,500 crore loan for the metro, while it might also give another Rs.840 crore for the Kakkanad extension.
It is noteworthy that the Kochi Metro Rail Limited (KMRL) had saved approximately Rs.400 crore by inking a deal with a private bank for readying an inter-modal smart card and allied systems for passenger fare collection. The card can also be used as a debit card.
The agency saved approximately Rs.100 crore in capital expenditure and Rs.50 crore to Rs.80 crore as maintenance cost, while the bank will give Rs.209 crore as royalty for being allowed to associate with the venture. It also made savings as the bid for building 75 coaches was awarded at an amount which was less than the estimate.
Mr. Fornage said the Kochi Metro was AFD’s flagship project in India for sustainable and innovative urban development.
“The partnership with Kudumbasree (to provide staff for crowd management, customer relations, etc.) shows that it is inclusive as well.”
He reiterated that French expertise would be shared for seamless integration between different commuting modes, efforts to create pedestrian corridors in the city and to operate electric vehicles. The KMRL plans to operate 150 electric feeder buses from metro stations.
The French team is expected to come back on its next mission in July, in which officials from its Paris head office too will take part.
Speaking on the occasion, KMRL managing director Elias George said city roads were hogged by cars, and the space should be reclaimed for commuters in public transport vehicles and pedestrians.
MONEY WISE
Metro agency saved Rs.400 crore by inking deal with private bank for smart card
Also made savings as bid for building 75 coaches was awarded at lesser amount
AFD expected to provide approximately Rs.1,500 crore loan for metro
