STOCK MARKET BSE NSE

Kochi Metro may Get Rs 840-cr French Loan

George said the State Cabinet was likely to take a final decision on the issuance of Government Order for the formation of the UMTA soon.

Published: 31st May 2015 06:01 AM  |   Last Updated: 31st May 2015 09:14 AM   |  A+A-

Kochi Metro.jpg

KOCHI:French financing agency Agence Francaise de Developpement (AFD), which has expressed willingness to provide funds for the proposed extension of the Kochi Metro Rail to Kakkanad, is likely to provide a loan of `840 crore for the project.

Talking to reporters on the sidelines of an ongoing workshop on ‘mass transit and urban development’, Kochi metro Rail Limited (KMRL) managing director Elias George said the proposal had already received in-principle approval from the AFD.

The main focus of the five-day workshop is ‘effective integration of all modes of transport with the larger objective of making public transportation the preferred travel mode for the people of Kochi, and reducing number of cars plying in city’.

  “At the workshop, stakeholders of the Kochi Metro Rail and the Unified Metropolitan Transportation Authority (UMTA), from across the world, will evaluate the Kochi Metro Rail project and the UMTA,” he said.

George said the State Cabinet was likely to take a final decision on the issuance of Government Order for the formation of the UMTA soon. Meanwhile, AFD Asia department director Pascal Pacaut said the success of the Kochi Metro Rail would depend on the effective integration of various modes of transport.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp