The Japan International Cooperation Agency (JICA) has offered full funding for the Rs.6,728-crore Light Metro project in Thiruvananthapuram and Kozhikode.
The financial support for MRTS project was made by the Deputy Director, South Asia Division-1, India and Bhutan, South Asia Department, JICA, Tokyo, Sunouchi Thesuhiko during the meeting with managing director, Kerala Rapid Transit Corporation Ltd, P.I. Sheikh Pareeth here on Tuesday.
The JICA has informed the KRTL managing director to make available fund for the project excluding the cost of the land to be acquired in the two cities and the taxes, official sources told The Hindu.
Terms finalised
The terms of the Special Terms for Economic Partnership loan are almost finalised and will be ready within 10 days time. The loan being offered is with a moratorium of 10 years period and total repayment period of 40 years, sources said.
Mr. Thesuhiko was accompanied by the Additional Chief Development Specialist, JICA India Office, New Delhi, Mahendra Pal Singh. The meeting was also attended by the top officials of the DMRC.
The arrival of the two-member JICA team to the city and the meeting with KRTL Managing Director is in continuation of the interaction the Principal Adivsor, E. Sreedharan had with the JICA authorities at New Delhi since May 19 this year.
Later, the JICA officials accompanied by the DMRC officials visited the Ulloor-Palayam corridor through which Light Metro has been proposed in the capital.
