The Delhi Metro Rail Corporation (DMRC) has said that it is up to the State government to take an administrative decision on whether to “take forward or shelve” the proposed Thalassery-Mysuru railway line.
If the project is to be taken forward, then the Indian Railways and the Karnataka government will have to be given copies of the feasibility report for their scrutiny and acceptance.
On their acceptance, a detailed project report (DPR) has to be prepared based on final location surveys for the Railway project, for which a competent agency has to be engaged.
The preparation of the DPR will take about 18 months and cost about ₹10 crore.
The Indian Railways and the Karnataka government have to be informed about the preparation of DPR and the Karnataka government should be requested to grant the required clearances and notifications for the final location survey.
If the decision is to go ahead with the project, a Special Purpose Vehicle (SPV) should be formed, perhaps under the name Thalassery-Mysuru Railway Corporation Limited.
If the project is proposed to be funded through 50% equity and 50% loan, the equity portion of the SPV will be held by the Indian Railways (49%) and the two State governments (51%).
