KOCHI: The Union Government is expected to give the much awaited nod for the Kochi Metro Rail project by the end of this month. Kochi Metro Rail managing director Tom Jose said that with the Planning Commission giving its nod in principle, the only hurdle in front of the project now is the Cabinet sanction. “During his recent Delhi visit, Chief Minister Oommen Chandy had met Union Urban Development Minister Kamal Nath and held discussions with regard to the project. The minister had assured that the file would be moved to the Cabinet meeting soon for its approval,” Tom Jose said. Tom Jose, who was one among the team members who visited the Kamal Nath, also said they had already requested the Centre to consider the implementation of the project as a Centre-State joint venture. “It will be difficult to find private investors for a project like Kochi Metro Rail with an estimated cost of Rs. 4,427 crore, where the expected return on investment is only 7 percent,” he added.Meanwhile, the work on the second metro rail-related project, the reconstruction of the North RoB, has begun on Sunday. “We had already started the construction of a new RoB near the KSRTC garage connecting Rajaji Road with Salim Rajan Road. The projects, including the widening of MG Road and Banerjee Road, will also be completed within the stipulated time,” he added. Meanwhile, experts are of the opinion that any further delay in the commencement of the project will result in a huge increase in the production cost. “The project cost which was estimated at Rs. 2,500 crore in 2005 had escalated and touched Rs. 4,427 crore in 2011. If the project is delayed further, the cost will cross Rs. 5,000 crore mark soon,” they said.
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