The Hindu Business Line : Kerala signs MoA with IL&FS

THE Kerala Government has signed a memorandum of agreement with Infrastructure Leasing & Financial Services (IL&FS) to assess the commercial viability of the proposed high-speed corridor (HSC) traversing the State from Kasargod in the North to Thiruvananthapuram in the South.

According to a release, IL&FS shall also assist the State Government to develop the project and mobilise financial resources. The company has similar formal working relationships with several other State Governments to jointly develop public infrastructure on a commercial format.

This 525-km access controlled HSC will also have a 24-hour surveillance and patrolling service, communication systems and ambulance services, the release stated.

The project is to be taken up in three phases, spread over 15 years with first phase shall connect Kunnamangalam to Puthenkurishu (175 km), the second phase (southern part) shall connect Puthenkurishu to southern tip (150 km) and the final phase (northern part) shall connect the northern tip to Kunnamangalam (200 km).

SOS booths shall be set up along the route to enable the users to communicate with the control room in case of emergencies. Further, an innovative insurance scheme is being considered to cover the users of the corridor against accidents, the release stated.

The State Government and IL&FS shall initially incorporate a holding company to facilitate the implementation of both the road project and the activity nodes. The holding company would invite private sector participation through an international competitive bidding process, the release added.

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