The Kochi-Bangaluru golden IT corridor will soon link the emerging towns in Kerala, Karnataka and Tamil Nadu States, if the proposed Nilambur–Nanjangud rail line becomes a reality.
Addressing a review meet held here recently to assess the progress of the project E. Sreedharan, Principal Advisor, Delhi Metro Rail Corporation (DMRC), said that preliminary works such as alignment survey, traffic survey and satellite survey of the project had been completed.
The land location survey for the purpose would commence soon, Mr. Sreedharan said.
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The government has earmarked ₹8 crore to prepare a detailed project report.
The estimated cost of the project is ₹4,000 crore and it would take around five years to complete it . A new topographical alignment survey has brought down the distance between Nilambur and Nanjangud to 162. 2 km, as against 236 km in the earlier surveys, Mr. Sreedharan said adding that the Railway Board had approved it.
The project would be executed on cost-sharing basis between the Centre and States by constituting a special purpose vehicle.
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Moreover, a special company would be constituted for the purpose.
Funds would not be a major constraint for the railway project as financial institutions would provide 50 per cent of the total cost as loans and the remaining amount could be met by the governments.
Even though railway projects would not need the permission of the Ministry of Environment and Forest, the DMRC would conduct an ecological impact study, prior to the construction works.
The project would not raise any ecological concerns as the railway line passes through underground tunnels in forest areas of Kerala and Karnataka States. ‘This is a promising and profitable project once it materialises,’ Mr. Sreedharan said adding he had great expectations on the project.
The government would hand over ₹2 crore of the ₹8 crore to the DMRC for preparing the detailed project report in two days, C. K. Saseendran, MLA, who presided over the meeting, said.
The line connecting Kerala and Karnataka is expected to bring down travel time between Kochi- Bangaluru to 7 hours and between Mysuru- Coimbatore to 5 hours.