The Union Cabinet has approved the implementation of the Kochi metro Rail Phase II of Kochi Metro Rail Project from JLN Stadium to Infopark via Kakkanad. The second phase will be at a cost of ₹1,957.05 crore, covering 11.17 km with 11 stations.

The decision was announced by Union Minister for Information and Broadcasting Anurag Thakur on Wednesday, after the meeting of the Union Cabinet which was chaired by Prime Minister Narendra Modi. “The preparatory works for Phase-II including road widening of Seaport Airport Road are progressing well,” said an official release.

Funding model

As per the funding pattern, 60 per cent of the cost of the second phase amounting to ₹1,016.24 crore will be through loans from bilateral and multilateral agencies. The equity component of the Government of India (GoI) and Government of Kerala (GoK) will be ₹274.9 crore each, which would be 16.23 per cent each of the total contribution.

Another ₹63.85 crore or 3.77 per cent of the contribution will be GoI subordinate debt for 50 per cent of central taxes and a similar amount will be GoK subordinate debt for 50 per cent of central taxes. Phase-I of the Kochi Metro from Aluva to Petta, covering a length of 25.6 km with 22 stations at an estimated completion cost of ₹5,181.79 crore is fully operational, according to the statement.

Kochi Metro Phase 1A project of viaduct of 1.80 km between Petta to SN Junction with an approved cost of ₹710.93 crore is being implemented as state sector project. “Presently all construction activities related with the project is over and the project is ready for inauguration,” the statement said. Kochi Metro Phase 1 B Project of 1.20 km from SN Junction to Thripunithura Terminal is under construction as state sector project.