KOCHI: The Kerala High-Speed Railway (KHSR) project between Thiruvananthapuram and Kannur, proposed by ‘Metro Man’ E Sreedharan, will carry a price tag of Rs 60,000 crore, of which Rs 24,000 crore (40%) will be mobilised via crowdfunding and the rest funded jointly by the Centre and the state. The proposal, submitted to Chief Minister V D Satheesan, envisages a 473-km high-speed rail corridor that reduces the travel time between the two districts to three-and-a-half hours.
Its cost is less than half the financial implications projected for the scrapped SilverLine, which a NITI Aayog assessment had estimated could end up placing a burden of around Rs 1.26 lakh crore on Kerala.
The report also pitches the corridor as the world’s first ‘Green Rail Corridor’, with its entire energy requirement proposed to be met through a captive solar power system. Surplus power generated would be supplied to KSEB, it says. A major attraction is the financing structure. Of the total cost, Rs 36,000 crore will be contributed as equity by the Union and the state governments on a 51:49 ratio, leaving Kerala’s share at around Rs 17,600 crore. As much as Rs 24,000 crore of the total is proposed to be mobilised through crowdfunding, significantly reducing the need for large-scale debt financing.
Sources close to Sreedharan said the crowdfunding component could be implemented through the issuance of tax-free bonds, a model that proved successful during the construction of the Konkan Railway. However, the interim report only refers to crowdfunding and does not specify the mechanism.
The proposal also differs substantially from SilverLine in its design. It envisages a double-line railway corridor running largely on elevated viaducts, with only a short underground stretch in Thiruvananthapuram.
Extensions to Wayanad,Palakkad planned
Future extensions towards Kasaragod, Wayanad and Palakkad have also been factored into the planning. Sreedharan has proposed the use of standard-gauge tracks, arguing that lower axle loads would reduce both construction and operational costs while allowing the system to adopt globally proven high-speed rail technologies.
The report also claims that land acquisition requirements would be limited, as only a narrow strip would be needed to build the elevated corridor.
According to DMRC, the entire project can be completed within five years of receiving statutory approvals. The trains will have 12 coaches with a total seating capacity of 800. Sreedharan’s report said if needed, it can be increased to 16 coaches.
Initially, during peak hours (6am-11am and 4pm-8pm), trains are planned every 20 minutes, and during non-peak hours, every 40 minutes. The total carrying capacity would be 54,400 passengers per day. No standing passengers would be allowed, and seating would be based on prior reservations.