The Public Investment Board has given the green signal to implement the Kochi Metro Rail project on the lines of the Chennai Metro.

“The Union Cabinet's approval is expected in three weeks. The Centre would pool in 20.26 per cent of the total project cost, which works out to Rs.1,002.23 crores,” said sources in Kochi Metro Rail Limited (KMRL). The earmarking of Rs.60 crore in last week's Union Budget for the project was widely interpreted as the Centre according in-principle clearance for the project.

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