Kochi Metro Rail Limited (KMRL) has signed an agreement with Bhavanam Foundation Kerala (BFK), a non-profit organisation, for providing alternative accommodation to people affected by the integrated urban regeneration and water transport system project in Kochi, covering Edappally, Thevara-Perandoor, Chilavanoor and market canals.
KMRL managing director A.P.M. Mohammed Hanish and A. Alexander, executive vice chairman of the foundation, signed the agreement in the presence of Chief Secretary Tom Jose on Saturday. KMRL and BFK will jointly devise a detailed action plan to cover timelines for land acquisition and complete the rehabilitation and resettlement process, Mr. Hanish said.
The metro agency has already signed a tripartite agreement with the Coastal Shipping and Inland Navigation Department and the Kerala Infrastructure Investment Fund Board (KIIFB) to execute the urban regeneration and water transport project. KMRL is the special purpose vehicle (SPV) for the project funded by KIIFB. The estimated overall project cost is ₹1,365.16 crore.