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Kochi Metro gets nod from public Investment: Board
Kochi | Thursday, Mar 22 2012 IST
 
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Kochi Metro rail project has received the much awaited Public Investment Board clearance today. Now with PIB recommendation, the project proposal would go to the union cabinet for the final approval. Union Cabinet's approval is expected in three weeks time. The contribution from the union government would be 20.26 per cent of the total project cost which works out to be Rs 1002.23 crore. The meeting was chaired by Secretary Expenditure,Sumit Bose. Planning Commission Member Secretary SudhaPillai, Urban Development Secretary Sudhir Krishna, Sanjay Garg, Expenditure Secretary- Kerala, Elias George, Special Commissioner and senior officials from all the ministries concerned were also present in the meeting. 'Kochi Metro project has crossed yetanother milestone. We are very satisfied the way PIB meeting went on. The whole meeting was very positive and they are convinced with the proposal and the plan of action we have put forward for the project.This is definitely a huge achievementfor the state government whose determination and hard work has been recognised. We hope to receive Union Cabinet's approval in another three weeks time;' said Tom Jose, Managing Director, Kochi Metro Rail Limited. PIB discussion were based on the points like capability and commitment of the State government to implement such a big project, extend of contribution from the union government, issue of equity participation, plan of action for therepayment of JICA loan among other things, a release said here today. UNI CGV SB SB2304 NNNN

-- (UNI) -- 22DR93.xml

 

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