A MOU (Memorandum Of Understanding) was signed on Tuesday between Government of Kerala (GoK) and Kochi Metro Rail Limited (KMRL) for forming a Special Purpose Vehicle (SPV), essential to the operation and maintenance of the Kochi Water Metro. V. P. Joy IAS, Chief Secretary, GoK, K. R. Jyothilal IAS, MD- KMRL, and K. R. Kumar, Director – Finance, KMRL were present.
- The construction of the Water Metro is progressing at a faster pace.
- The Kochi Water Metro project envisages the development of 15 identified routes, connecting 10 islands along a network of routes that span 78 km with a fleet of 78 fast, electrically propelled hybrid ferries plying to 38 jetties.
- More than 1,00,000 islanders are expected to benefit from the water metro.
- With the introduction of the project that connects 15 routes, Kochiites can reach the mainland in less time.
- It is envisaged to be a socially inclusive transport system than being just a transport service with focus on improved livelihoods through commercial property development and tourism-based initiatives.
- The Kochi Water Metro Project intends to introduce modern, energy efficient, environment friendly and safe boats with low wake and draft characteristics at a high frequency to increase ridership.
- The Kochi Water Metro project has a total value of Rs. 819 crores.
- Major part of this project is financed under Indo-German Financial Cooperation with a long-term loan agreement of 85 million Euros (Indian Rupees Rs. 579 Crore) with German funding agency, KfW, for the development of an integrated water transport system for the city of Kochi.
Water Metro Boats:
- In September 2019, Cochin Shipyard Ltd. bagged the contract for building boats for the proposed Kochi Water Metro project.
- The CSL got the tender for 23 boats.
- The boats would be 24 meters long and have a capacity of 100 passengers.
- The boats will be powered using an electric propulsion system equipped with high-quality Lithium Titanium Oxide batteries.
- The CSL has already started construction of Hybrid Electric passenger boats for the proposed Kochi Water Metro project.
- Operation Control Centre for the Kochi Water Metro is in the making.
- The centralized operation center that will control the functioning of the Kochi Water Metro is being built at Vytilla.
Source: Kochi Metro-Update