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Kochi Metro hopeful of AFD loan by November

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Kochi Metro hopeful of AFD loan by November
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Kochi: Kochi Metro is hopeful that Agence Francaise de Development (AFD, the French Financial Agency which has been approached for external funding for the rail project, will make a final commitment on providing loan of around 180 million euros by November end.

The final appraisal mission led by Alain Ries, Head of the transport and energy division (Paris) along with Xavier Hoang, urban transport expert and Project Manager for Kochi metro (Paris) and Gautier Kohler, Project Coordinator (India) had detailed discussions regarding the progress on different aspects of the project and expressed satisfaction on the development of surveys and studies going on.

AFD team held discussions on the progress on Land Acquisition, Project construction, Procurement Plan and Financial Analysis of the project and also had deliberations with KMRL on the initiatives taken on Transit Oriented Development and Unified Metropolitan Transport Authority (UMPTA).

During their three-day mission, AFD officials undertook site inspection and studied the progress in Social Impact study, R&R policy, TOD plan and also held discussions with the stake holders of UMTA.

Ernakulam District collector, Sheikh Pareeth, IGP (Eranakulam Range) K Padmakumar, City Police Commissioner K G James, Kerala state Road Transport Corporation Chairman Managing Director, K G Mohanlal, Chief Town planner- Eapen Varghese, were among those who attended the meetings.

The discussions with the AFD team have been extremely satisfying, and that the loan approval would hopefully be communicated to KMRL before the end of 2013, Elias George, Kochi Metro Managing Director, said.

He expressed confidence AFD will make a final commitment on providing loan to the tune of around 180 million euros for the project by November end.

George also expressed satisfaction regarding the AFD team's willingness to provide separate technical assistance for preparing a workable action plan for the realisation of Unified Metropolitan Transport Authority on ground.

KMRL has already assigned agencies for preparing reports on traffic survey, the Social impact and R&R policy for Kochi Metro project.

The delegation is expected to submit its report by October to enable their board to take a decision in November this year.

PTI

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