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Thiruvananthapuram, India (Metro Rail Today): Kerala Rail Development Corporation Limited (KRCL) has been asked to make a presentation before the minister of state for railways Raosaheb Patil Danve next week as a prelaude to the approval of the detailed project report of Semi-High Speed Rail Project Silver Line.
The project hasn't got clearance from the ministry of railways and department of economic affairs (DEA). As per government records, the Indian Financing Corporation (IRFC), one of the agencies expected to fund the project , it will begin processing the file for the project only after it receives approval from the railway board.
As the part of land acquisition, a notification as per the surveys and Boundaries act,1961 has been issued in Kannur and Alappuzha.
The survey officer will have to publish notification inviting all persons having interest in the land or in the boundaries of which survey has been ordered to appear in person through an agent when called upon for the purpose of pointing out the boundaries of the land.
The notification has still not been issued in other districts, including Thiruvananthapuram, Kollam, Pathanamthitta, Kottayam, Ernakulam, Thrissur, Kozhikode, Malappuram, Kasaragod.
The proposal for external funding is pending with DEA, which has asked the state government to provide an undertaking that the project will be independent of budgetary support from the Ministry of Railways. and that in case the special purpose vehicle (SPV) fails in debt servicing, the liability will be borne by the state.
The state government had submitted a proposal for availing foreign funds to the tune of Rs 33,700 crore for the project. The states proposal to the DEA had said that the state is looking for the funds from Japan International Cooperation Agency, Asian Development Bank, Asian Infrastructure Investment Bank and Germen Development Bank.
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