The Kochi Water Metro project, originally planned for completion within four years, has faced delays extending to seven years, leaving much of its proposed fleet and terminal infrastructure incomplete. Of the 78 boats and 38 jetties planned under the Rs. 11.36 bn project, only 20 boats and 12 terminals have been commissioned. The project is largely financed through a long-term loan from KfW Development Bank under an Indo-German financial cooperation agreement. It was initially intended to become fully operational by 2019, but the loan period has been extended several times and is now due to expire in June 2027. Kochi Metro Rail (KMRL), the implementing agency, is seeking another extension. Delays have been attributed to holdups in the manufacture and delivery of boats by Cochin Shipyard (CSL), contractor timelines, monsoon disruptions and elections. A total of 26 terminals and 58 boats remain to be commissioned. The project was proposed in 2015 in two phases, with the first phase covering seven routes and 43 boats, and the second extending services to 16 routes. The infrastructure plan provided for 18 major jetties and 20 minor jetties. Three major jetties at Elamkunnapuzha, Kadamakudy and Varapuzha, along with seven minor facilities, were earmarked for later development. Only the Eloor and Cheranalloor minor jetties among these are currently operational. Around 40 per cent of the funds remain unutilised, while lower ridership at Vypeen, Bolgatty and Cheranalloor has added to concerns. KMRL has said construction of new terminals is nearing completion, with Kadamakudy and Paliyamthuruthu ready apart from approach-road work. It expects 30 piling works and five pile-chipping works to be completed in October, while contracts for Edakochi and Varapuzha terminals, an operation control centre and office facilities may soon be awarded. One remaining CSL boat is due in December and two in June 2028, while tenders have been invited for 15 additional boats. Floating jetties are also scheduled for installation by December 2026 after dredging.