KOCHI: The state government has agreed to provide thirty three acres
of land at Kakkanad for Kochi Metro Rail Limited (KMRL) to raise funds
for the project. It has been decided to hand over the land, owned by
Public Works Department, where NGO quarters is located. The decision was
taken at a meeting of board of directors of KMRL held at
Thiruvananthapuram on Thursday.
Talking to ToI on the new development, managing director, KRML, Tom Jose said that the dilapidated NGO quarters would be pulled down to construct new buildings to provide accommodation for government officials. "Part of the property will be used to raise fund for the metro project. We will conduct a study to find out how we can maximize profit utilizing the land," he said.
The authorities are also contemplating formation of a consortium of banks to raise funds for Kochi metro project. "We are considering two other options also. They include issuing of company bonds and relaxation of building rules to raise money," said Kochi mayor Tony Chammany. He also said that Tom Jose had been entrusted with the task of coming up with suitable suggestions.
Source: http://articles.timesofindia.indiatimes.com/2011-09-02/kochi/30105462_1_metro-project-acres-land
Talking to ToI on the new development, managing director, KRML, Tom Jose said that the dilapidated NGO quarters would be pulled down to construct new buildings to provide accommodation for government officials. "Part of the property will be used to raise fund for the metro project. We will conduct a study to find out how we can maximize profit utilizing the land," he said.
The authorities are also contemplating formation of a consortium of banks to raise funds for Kochi metro project. "We are considering two other options also. They include issuing of company bonds and relaxation of building rules to raise money," said Kochi mayor Tony Chammany. He also said that Tom Jose had been entrusted with the task of coming up with suitable suggestions.
Source: http://articles.timesofindia.indiatimes.com/2011-09-02/kochi/30105462_1_metro-project-acres-land
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