Metro extension approved

: The Kochi Metro has approved extension of phase 1 metro line from Petta to Tripunithura at an additional cost of Rs 323 crore.
Delhi Metro Rail Corporation Chairman Sudhher Krishna later told reporters that Kochi Metro board also approved availing of a loan assistance of 180 million euro from Agence Francaise de Development (AFD) and authorised Managing Director to sign agreements with AFD for this purpose.
The loan is for 180 Million euro for a 25 year period. (20+5 years grace period).
Two agreements would be signed in connection with the AFD loan. Credit Facility Agreement with the Department of Economic Affairs and AFD on February 7 in New Delhi and Project

Agreement between KMRL and AFD on February 8 in Kochi.
The board also gave approval for appointment of Quality and Safety Monitoring Consultants for the project. Deutsche Bank International GmbH, Germany bagged the contract for safety and quality audit for a remuneration of Rs 36.7 crore.
The Kochi metro Board also approved the annual budget for the project for the next fiscal. The proposed budget estimate for 2014-15 is Rs 2,398.48 crore. The current year's revised estimate is Rs 1,000.97 crore.
The board took note of the Government Order appointing M K Sinha, Officer on Special Duty (UT), Ministry of Urban Development, in place of C K Khaitan, as Director.