The Kerala Cabinet today accorded administrative sanction worth Rs 359 crore for the extension of Kochi Metro rail project from Petta to Tripunithura junction in Ernakulam district.
Chief Minister Oommen Chandy told newspersons that the amount has been calculated as per the new project report.
The new project report has been given shape by including availability of feeder buses, public bike sharing, total collaboration of systems including walk ways in influence zones and renewed internal rate of returns.
The Government would bear the Rs 58.11 crore needed to acquire land for the same. The remaining amount of Rs 300.89 crore will be taken as loan from banks/ domestic market.
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