The Japan International Cooperation Agency (JICA) has suggested inclusion of the Rs.6,728-crore Light Metro project in Thiruvananthapuram and Kozhikode under the rolling programme of the Union government to be funded under Special Terms for Economic Partnership (STEP) loan conditions.
This was put forward at a discussion DMRC principal adviser E. Sreedharan had with the country head of JICA in New Delhi for securing loan for the MRTS projects.
“The response from JICA is positive,” Mr. Sreedharan told the government.
The Chief Minister was also apprised of the talks on May 19.
Project report
At the meeting, Mr. Sreedharan conveyed the intention of the government to take up the Light Metro project in 35.12 km in Phase I.
The JICA country head asked him to ensure that the State forwarded the detailed project report through the Union Ministry of Urban Affairs to the Department of Economic Affairs.
Appraisal team
If the project is included under the rolling programme, JICA will be able to send an appraisal team in two to three months.
The JICA country head said that the loan agreement can be concluded in the next four to five months.
The relaxed conditions for a STEP loan are being discussed by the Union Ministry of Urban Affairs, Department of Economic Affairs, and JICA. The discussions are expected to be over by May.
‘Relaxed conditions’
The State’s reaction to the “relaxed conditions” for securing the STEP loan has been sought by the Ministry. The DMRC has formally given a letter citing the talks with the JICA country head to the Managing Director of Kerala Rapid Transit Corporation Ltd (KRTL).
The DMRC requested that the State agree to the terms and conditions that will be reached between JICA and the Department of Economic Affairs.
Meanwhile, the KRTL has forwarded the note prepared by it to the Secretary, Public Works Department, to be placed at the next Cabinet for securing the mandatory node for the Light Metro project.
