Cabinet clears Rs660b rail corridor project
TRIVANDRUM: Kerala is set to build a Rs660.79billion rail line that will enable semi-high speed trains between upstate Kasaragod and the capital city here covering 532km by 2024.
Kerala Rail Development Corporation Limited (KRDCL), a joint venture of the government of Kerala and the federal railways, building the track to decongest the existing tracks.
KRDCL will have to acquire about 1,200 hectares of land for the project that will have the rails elevated along urban stretches. The trains will run at a maximum speed of 200 kph.
They will initially have nine coaches, and the number will be subsequently enhanced to 12. The travel charge is projected to be Rs2.75 per km, and there will be an annual hike of 7.5 per cent, the company said in a statement.
A KRDCL statement said it expects a ridership of 67,740 passengers a day. It estimates to carry 1,330 travellers in one direction at peak hours.
The average number of travellers a day will be 82,266 by 2028, 116,681 by 2040 and 147,120 in 2051.
As for employment, the project will generate 50,000 jobs during the construction of the corridor and 11,000 once it is functional ater completion.
The governmental nod to the project comes a year ater KRDCL initiated a preliminary feasibility study and found the project “viable.”
The feasibility report will be forwarded to Railway Ministry for their in-principle approval.
In the meantime, KRDCL will be completing the preparation of DPR (Detailed Project Report) by around November 2019.
“For meeting the expenses, Rs 344.54 billion will come as loans. The Centre and state will need to provide Rs77.2 billion each,” the statement quoted V Ajith Kumar, its managing director, as saying.
“The Kerala government will spend Rs86.56 billion on land acquisition and allied maters. The rest of the expenses will be met through other loans by the union and state governments.”
Thiruvananthapuram-headquartered KRDCL floated in January 2017, is a joint venture between the Kerala government and the Railways to execute viable railway projects on a cost-sharing basis.