French agency to fund Rs 472 crores for Vyttila Mobility Hub

Kochi (Urban Transport News): The Vyttila Mobility Hub Society (VMHS), with the support of the Kochi Metro Rail Limited (KMRL), is planning a Rs.590 crore development for Vyttila Mobility Hub in the second phase of the Kochi Metro Rail Project. The French agency - Agence Française de Développement (AFD) is agreed to fund Rs.472 crores on a long term loan basis. According to the detailed project report (DPR), the existing bus terminal at Vyttila will be converted into an advanced mobility hub, interconnecting various modes of transport including rail, road and water. The Kochi Metro Rail Authority is planning to float the tenders for the construction of an advanced boat terminal at Vyttila Mobility Hub under the Kochi Water Metro project which will be the major integration point of various modes of transport. With the issuing of No Objection Certificate (NOC) to hand over 123 cents of land at Vytttila Mobility Hub to KMRL, further steps will be initiated for the construction of a boat terminal for the Water Metro project. The Kerala government had earlier issued the order and instructed the KMRL to follow the guidelines and conditions put forth by the government. [caption id="attachment_5306" align="alignnone" width="600"] Vyttila Mobility Hub, Kochi[/caption]

“KMRL is the agency which will be implementing the phase-II development of Vyttila Mobility Hub.  The agency had asked for 1.23 acres of land at Vyttila Hub for the development of a boat terminal. The meeting convened by the Chief Secretary has recommended the allotment of land. The government has analysed the proposal. After assessing that the agency has put forth the request for the land as per the DPR, it was decided to transfer the land,” said in the office memorandum issued by the state government.

Vyttila Mobility Hub, a special purpose vehicle (SPV) framed for the management of the Vyttila Mobility Hub project, now owns 26.53 acres of land at Vyttila. A biggest terminal of the water metro project at the Vyttila Mobility Hub, which will spread over 40,000 sq ft, will be constructed by the Kochi Metro Rail Limited.