Kochi (Metro Rail News): Kochi Metro Phase 2 received a major financial boost from AIIB. On 21 August 2024, the Asian Infrastructure Investment Bank ( AIIB) sanctioned a USD 122.32 million loan which is approximately Rs 1025.21 crore loan for the Kochi Metro Phase 2.
Kochi Metro Phase 2
Kochi Metro’s Phase 2 (Pink Line) will span 11.2 km connecting JLN Stadium and Infopark (Smart City) via Kakkanad through 11 stations.
Afcons Infrastructure is executing the civil work in Phase 2 under package KBC3 which is worth Rs 1141.32 crore and has a 600-day deadline. The package includes the construction of a viaduct in phase 2 and 10 metro stations between Palarivattom Junction and Infopark.
AIIB’s Funding Plan
AIIB is planning to spend the entire loan amount on payments for goods and non-consulting services by Q3 2024- Q4- 2027.
This basically includes two sections :
Civil work: This section will hold up the design and construction work for the 11.2 km elevated line viaduct with 11 stations, track and other major civil works. This section will also finance the following aspects:
- Architectural finishes for all stations.
- Track work.
- Construction of the entry/exit structures for all the stations.
- Construction of KMRL staff quarters and implementation of NMT works.
Railway system and trains (RS&T) – This section will cover the procurement, installation, and commissioning of various systems. This will include the following elements:
- Traction and power supply facilities, as well as SCADA.
- Auxiliary main substation.
- E&M work
- Telecommunications, security control and AFC.
- Lifts, escalators and procurement of 5 new trains.
The Kochi Metro Phase 2 project is expected to have a total cost of USD 229.88 million (Rs. 1,926.71 crore. The remaining funding support for the project will be provided by the Government of Kerala ($66.80mn or Rs. 559.87 crore) and the Government of India ($40.76mn or Rs. 341.62 crore).
