Central nod to Chennai-model Kochi Metro rail

KOCHI: The Ministry of Urban Development has reportedly given approval to model the Kochi Metro rail on the lines of Chennai Metro rail.A draft in this regard has been prepared by the Cabinet.There will be no private participation in the project. The amount which was earmarked for the project will be increased to Rs. 5,016 crore from Rs. 1,886 crore, as 51 percentage of the amount will be taken by way of loan.The project will be submitted before the Cabinet only after receiving a nod from the Finance Ministry.