The board of directors of Kochi Metro Rail Limited (KMRL) has approved the agreement to be signed between KMRL and Delhi Metro Rail Corporation (DMRC) for the execution of the first phase of the project. The agreement would be formally signed between KMRL and DMRC soon.
The board also discussed the changes to be made to the technical parametres pursuant to the adoption of the communication based train control (CBTC) system of signaling.
It also approved the invitation of expressions of interest (EoIs) for preparing a master plan for the development of 17.315 acres of land at Kakkanad. KMRL intends to develop this area into a modern multi-utility centre combining the various requirements of the citizens of Kochi and it is expected that this facility will include urban amenities like markets and civic facilities as well as recreational centres.
The Kakkanad facility will also provide supplementary revenues for improving the financial bottomlines of the metro project.
The board also discussed the various funding options and strategies for implementing the project.
CK Khaitan, joint secretary, Ministry of Urban Development was inducted as director in place of SK Lohia. Mahesh Kumar and Abraham Oommen were inducted as functional directors, a release said.
