Kochi metro plans SPV for transport project

14 Jan 2013 CW Team

In order to facilitate coordinated planning and implementation of the city’s transportation network, Kochi Metro Rail (KMRL) plans to set up a special purpose vehicle.

The SPV, which would be set up under the aegis of the Unified Metropolitan Authority, would focus on the development of Kochi city's waterways, which will be integrated with the proposed metro rail system.

The SPV would be headed by KMRL. Meanwhile, the transit-oriented development committee held its first meeting recently and asked the water transport department to begin trial services along a few urban waterways at Kochi by next month.

The committee was constituted by the board of KMRL with the objective of transit-oriented development to ensure more balanced urban development away from the city centre, as well as the provision of urban facilities close to metro stations.

In terms of transit-oriented development, each metro station will act as a node and a catalyst for creating local urban facilities in the vicinity of the station itself, said Elias George, managing director of KMRL.

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