NEWDELHI: Finally, state’s dream of having a Metro rail is getting realised.Chief Minister Oommen Chandy and his team managed to get the Centre to agree to be an equity partner for the Metro rail project on the lines of the Chennai Metro project.“The Urban Development Ministry has agreed to the request of the state govt to expedite the approval for the Kochi Metro rail project on the lines of the Chennai model,” Chandy said after meeting Urban Development Minister Kamal Nath.Electricity Minister Aryadan Mohammed said that both the Centre and the state will be having 15 percent stake each in the Metro.“The rest of the money will be loan from the Japan Bank for International Cooperation (JBIC). The Planning Commission too has agreed to it,” he said.The Planning Commission has been so far opposing any kind of direct involvement in the project though the state has been pressing for the Chennai model.The Chennai project is financed by three entities. The Japan International Cooperation Agency (JICA), which is funding over 60 percent of the project cost of `14,600 crore, and the Central and state government which contribute about 20 percent each.Aryadan said that the Urban Development Ministry has asked for some more details regarding the population strength as many reports had questioned the viability of a Metro project in Kochi.“We will be sending the details at the earliest and the Urban Development Ministry will be putting up a Cabinet note seeking clearance for the Kochi Metro on the lines of the Chennai Metro soon,” he said.Asked whether the state government expects any reservation from the Planning Commission which has been opposing the move, Aryadan said: “Nobody is going to oppose. We will have the Kochi Metro soon.”Chandy and his Cabinet ministers were here on a two-day visit to liaise with the Centre on various developmental needs of the state.
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