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Urban Development | September 17, 2012
#24546

Centre to give financial aid for monorail projects

Union government would provide financial support for monorail projects in Kozhikode and Thiruvananthapuram.

   While a stretch of 16 km, with a construction cost of Rs 1,600 crore is proposed in Kozhikode, the distance to be covered in Thiruvananthapuram will be 24 km with a construction cost of Rs 2,500 crore.

   Union Urban Development Minister Kamal Nath said the centre has given its in-principle nod for the Kozhikode project. Nath urged the state government to entrust the work of the monorail project to Kochi Metro Rail (KMRL).

   A monorail project has already been identified in Delhi and work has been entrusted to Delhi Metro Rail Corporation. Nath also urged chief ministers of all states to create a dedicated municipal cadre to ensure that government's urban infrastructure development initiatives can be made more effective and sustainable.

   The government was in the process of finalising the next phase of Jawaharlal Nehru National Urban Renewal Mission (JNNURM), and it was keen to explore innovative methods to raise resources including monetisation of land, encourage PPP and gap funding, he said.

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