Kochi: The Board of Directors of Kochi Metro Rail Limited (KMRL) today approved a proposal for engaging a General Consultant for Water Metro with an estimated project cost of Rs 747 crore.
The project envisages creation of modern water transport infrastructure in Greater Kochi region by inducting 78 state-of-the-art modern boats along 16 routes and traversing 38 boat jetties.
The meeting approved extension of agreement with DMRC and payment of additional remuneration of Rs 42.71 crore to them for execution of Kochi Metro Rail Project Phase I, a KMRL release said here today.
The agreement with DMRC for executing the Kochi Metro Rail Project will expire tomorrow.
The agreed remuneration was Rs 241.8396 crore for a four year period at six per cent of the approved project cost (excluding land cost and DMRC remuneration).
DMRC had requested for an additional remuneration of Rs 42.71 crore, to execute the remaining work during the extended period of the contract.
The 26th meeting of the Board of Directors of Kochi Metro Rail Ltd was held in New Delhi under the chairmanship of Rajiv Gauba, Secretary, Urban Development.