KOCHI: The Kochi Metro Rail project is expected to get the Centre’s nod by September-end, Kochi Metro Rail Limited managing director Tom Jose said here on Thursday.He was talking at a special meeting convened here by the Kerala Merchants Union.“The Centre is expected to give sanction to the Kochi Metro Rail project within four to six week’s time. A high-level meeting was convened in Delhi last week in which principal secretary to the Prime Minister T K Nair has said the project is likely to get the nod soon,” Jose said.He said the state has succeeded in convincing the Centre that the public private participation (PPP) model for implementing the Metro Rail project would not be a feasible idea.“It will be difficult to find private investors for a project like Metro Rail with an estimated cost at Rs 4427 crore. The expected return on investment is only 7 per cent in the case of Kochi Metro rail, while the private investors expect a minimum return of 12 percent,” he said.Jose said that once the project is sanctioned, the authorities are confident of completing the Metro Rail project in four years.Regarding the Metro rail-related projects, Jose said the dismantling of North Overbridge would only be done after making alternative arrangements to divert traffic.“As an immediate step, the Thammanam Pulleppady road will be repaired. We have already chalked out a plan to divert traffic once the bridge is dismantled. The system will be implemented on an experimental basis and based on its success, the diamantling work of North bridge will begin,” he said.Jose said the state government would ensure a proper rehabilitation package for the shops that will be evacuated for the project. “The other Metro Rail-related projects, including the construction of RoB across Salim Rajan Road, the widening of MG Road from Jose Junction to Ernakulam South Station and Banerjee Road from Ernakulam North to Madhava Pharmacy Junction would also be completed in the stipulated time,” he said.
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