'Will try to complete 1st phase of Kochi Metro project in 4yr'

New Delhi, May 24: The

Rail Corporation will try to complete the first phase of

Metro project from Aluva to Pettah within four years, its Managing Director Mangu Singh said Thursday.

The DMRC has in mind a period of four years to execute the project though it would try to accomplish the task even earlier, Singh told reporters after signing an agreement with Kochi Metro Rail Ltd.

Officials said the agreement attempts to balance the roles and responsibilities of Kochi Metro Rail Limited (KMRL) as the project owner and client, while DMRC will be the executing agency.

KMRL Managing Director Elias George said though DMRC would execute the works, 30 per cent of the project execution team would be recruited by Kochi Metro so that it can also develop its own capability.

The agreement was signed in the presence of Urban Development Secretary Sudhir Krishna, who also happens to be the Chairman of DMRC as well KMRL.

Krishna told reporters that KMRL was considering the option of seeking assistance from Agence Française de Development (AFD) for funding of the project.

While a lot of projects had got funds from Japan International Cooperation Agency (JICA), other sources were also being considered, he said.

The Housing and Urban Development Corporation Ltd was also willing to fund Metro projects.

To a question related to the action taken by the Ministry on the report of the two-member panel which had been constituted to fix responsibility for the closing down of the Airport Express Metro line, Krishna said the report was still being considered.

PTI