The government has asked Mumbai Railway Vikas Corporation Ltd. (MRVCL) to revise the estimate of the Rapid Rail Transit System (RRTS) proposed for the 125.65-km stretch between Thiruvananthapuram and Chengannur.
The cost of ₹3,330.78 crore projected by the MRVCL, which carried out the feasibility study and prepared the Detailed Project Report for the RRTS, was based on the estimate in April 2014. The State has called for a revised estimate based on either December 2016 or March 2017.
The directive comes as the RRTS figures first on the priority list of the cost-sharing of “viable” projects to be executed through a joint venture company, Kerala Rail Development Corporation Ltd. (KRDCL), with 51:49 equity between the State and Railways.
A meeting between the KRDCL authorities and Southern Railway on taking forward the RRTS is scheduled for the third week of January in Chennai, at the initiative of the State.
With the formal registration of the KRDCL on January 3, with its headquarters in the State capital and first board meeting scheduled soon, official sources said the MVRCL has been told to submit the revised estimate at the earliest.
Of the estimated cost, the MVRCL has said ₹1,200 crore is needed for rolling stock, ₹1,025 crore for civil work, ₹ 554.46 crore for signalling and telecom, ₹172 crore for electrical work, and the remaining for other expenses of the project aimed at short-distance train commuters.
As mobilising resources is a Herculean task, sources said the government was considering to take out the 67 overbridge and underbridge needed in the corridor and execute it under a separate scheme. This would bring down the cost of civil works.
The government has to provide ₹50 crore as the State’s share towards the initial equity to the JVC as per the pact signed on September 1. The ₹49 crore Railways’ initial equity share is also yet to be pumped in. Railways are also yet to nominate their board members to the KRDCL.
The committee, comprising representatives of the Ministry of Railways and the State government in equal numbers for the selection of the Managing Director, has also not been set up. At present, the day-to-day affairs are handled by the Project Director.
The Chief Secretary is the part-time Chairman and Managing Director. Apart from the RRTS, the KRDCL will take up the Erumeli-Punalur rail link for the Sabari Rail, 15 km rail connectivity to Ettumanur, rail link to the Cochin airport, Old Railway station in Ernakulam, coaching terminal in Nemom and doubling of 35 km up to Parasala on the Thiruvananthapuram-Kanyakumari stretch.
