The project cost was estimated at Rs 1,991 crore, an official press release said.
A director board chaired by Chief Minister Oommen Chandy had been formed for the implementation of the project, to be executed jointly by the state government and the Kerala Road Fund Board.
Public Works Minister V K Ibrahim Kunju would the vice chairman of the project director board. Ministers K M Mani, P K Kunhalikutty, Aryadan Mohammed, Manjalamkuzhi Ali, M KMuneer and V S Sivakumar and officials of Public Works and Transport departments would be members of the Board.
Kerala Road Fund Board chief executive officer Harikesh would be the managing director of the mono rail project.
