The State Government will setup a Special Purpose Vehicle (SPV) for executing the monorail project in Thiruvananthapuram. Experts opinion is to implement the project with the participation of private agencies to make it much profitable. They also pointed out that if Government allot 30 acers of land at Pallipuram for the proposed yard for monorail to a private agency, without direct investment Government can make the project profitable. A total of Rs 5100 crore is estimated for the monorail project, of these 20% investment from State Government, 20% from the Central Government and the balance 60% investment from the private agencies.
State Government has appointed Kerala Transport Development Finance Corporation (KTDFC) as the nodal agency for the project, but hasn’t revealed it’s role in the project. After finding a private agency the allotted 20% share by the State Government has to be given by KTDFC.
Ministry of Transportation is responsible for the implementation of Trivandrum Monorail project and Government has already handed over the feasibility report by NATPAC to the Ministry.
A number of private agencies have already approached the Government with their interest in the project. NATPAC along with KTDFC will invite tender for the project and jointly form a Special Purpose Vehicle company where NATPAC’s role will be giving technical assistance to the project.
News Sourced from “Metro Vaartha”