The ‘reworked’ Detailed Project Report (DPR) of Light Metro for the cites of Thiruvananthapuram and Kozhikode has reached the government for ‘review and approval’.
The board of Kerala Rail Transit Ltd. (KRTL), under Chief Minister Pinarayi Vijayan, which met here this week, decided to forward the “reworked DPR” prepared by the Delhi Metro Rail Corporation (DMRC) based on the new Metro policy guidelines after discussions.
Once the minutes of the KRTL board meeting are approved by the Chief Minister, Public Works Department, the administrative department for the Mass Rapid Transit System (MRTS) in the two cities will review the reworked DPR and forward it with its comments for the mandatory approval of the Cabinet.
Cost up by 700 crore
The cost for laying Light Metro along 35.12 km in the two cities has gone up by ₹700 crore from ₹6,728 crore with the incorporation of transit-oriented development plan, value capture finance and public-private partnership (PPP) and other parameters.
The 17.99% economic internal rate of return (EIRR) for the Thiruvananthapuram project and 17.39% for Kozhikode have also gone up.
Automatic fare collection and operation of lifts and escalators in light metro stations in the two cities had been included in the PPP mode.
An additional tax on property along the 500-m stretch on both sides of the 35.12-km corridor in the two cities has been suggested by the DMRC for transit-oriented development plan.
Value capture finance
Additional floor area ratio at a price has also been mooted along the corridor for value capture finance along with the Unified Metropolitan Transport Authority as in Kochi.
Once the Cabinet approval is obtained, the reworked DPR will be forwarded to the Ministry of Housing and Urban Affairs for nod and financial assistance, official sources said.
Work reviewed
The board also reviewed the preparatory works of Light Metro — the flyovers proposed with KIIFB funds in the capital — entrusted to the DMRC, the turnkey consultant for the MRTS.
The DMRC has been putting pressure on the government to expedite the process of approval for Light Metro and to sign an agreement with them to take up the construction of the flyovers through which vehicular traffic and light metro will ply.
