Giving fresh hopes to Kochiites, the proposed Kochi Metro Rail project has received the much-awaited Public Investment Board (PIB) clearance on Thursday. Now with the PIB recommendation, the project proposal would go to the Union Cabinet for the final approval, which is expected in three weeks. The contribution from the Central Government would be 20.26 percent of the total project cost, which works out to be Rs 1002.23 crores.
The meeting was chaired by secretary of Expenditure Sumit Bose. Planning Commission member secretary Sudha Pillai, Urban Development secretary Sudhir Krishna, Expenditure secretary (Kerala) Elias George, and senior officials from all the concerned ministries were also present in the meeting held in New Delhi.