Kerala sanctions 50 crore rupees for Kochi Metro Phase 2

Kochi: The Kerala government has cleared the release of 50 crore rupees as part of its equity share for Phase 2 of the Kochi Metro Rail project. This phase will extend the network from Jawaharlal Nehru Stadium to Infopark in Kakkanad.

An order dated November 26 states that revised administrative approval has been granted for the project, which now carries an overall cost of 1,957.05 crore rupees. Of this, the state’s contribution amounts to 1,571.05 crore rupees.

The government had previously sanctioned 190.22 crore rupees towards its equity commitment and deposited the amount in the Kochi Metro Rail Limited (KMRL) account at the Sub Treasury in Ernakulam. Afterward, the KMRL Managing Director sought the release of the remaining equity share to meet ongoing expenses and prevent any disruption to the project’s progress.

Responding to this request, the state has now approved the additional 50 crore rupees. KMRL has been instructed to regularise the spending through reappropriation of savings or a supplementary demand for grants before the end of the current financial year.