Kochi Metro Rail Ltd’s director board would be reconstituted, following which the new board would take all decisions related to the construction of the metro rail.

Electricity and Transport Minister Aryadan Mohammed on Tuesday said that the Delhi Metro Rail Corporation (DMRC) will execute the Kochi metro rail project work.

Addressing a press conference soon after the last director board meeting of Kochi Metro Rail Ltd, in its current format, Mr. Mohammed said the Cabinet had in the month of March decided that the construction work should be bestowed on the DMRC. Kochi Metro Rail Ltd’s director board would be reconstituted, following which the new board would take all decisions related to the construction of the metro rail.

The new company would have 50-50 participation by the Centre and State governments, which would nominate five directors each to the new board.

As per the Cabinet decision, the Central government would nominate the chairman, while the State government would nominate the managing director.

He said the work on the metro rail was expected to be completed within three years.

‘Reports baseless’

Mr. Mohammed said that the Chief Minister, Industry Minister, and himself had together invited E. Sreedharan, Principal Advisor, DMRC, to extend his services for establishing the metro rail project. The news reports that moves were being made to keep Mr. Sreedharan away from the metro rail project implementation were baseless, he said.

Preliminary work on

The preliminary work was underway. The KMRL would undertake some of the preliminary work, including construction of roads.

The State government would undertake the task of land acquisition, he said.

Loan

The Central government would initiate steps for securing loan from the Japan International Cooperation Agency.

Kochi metro, he said, would be under the Union Urban Development Ministry.

Finance Minister K.M. Mani, Ports and Fisheries Minister K. Babu, Industry Minister P.K. Kunhalikutty, Public Works Minister Ebrahim Kunju, Chief Secretary K. Jayakumar, KMRL Managing Director Tom Jose, Mr. Sreedharan, and Kochi Mayor Toni Chammini attended the director board meeting.