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Modi Govt to sanction Thiruvananthapuram-Kasargod semi high speed railway project soon

Kerala to get in-principle sanction from the Centre for its semi high-speed railway project soon. Once the project materializes it will only take fours to travel on train from Thiruvananthapuram to Kasargod.The study report and alignment report of the project, which the Railway ministry and railway board are curious about, have been accepted by the State government and submitted to the Railway ministry.

The Railway has offered Rs 6000 crore share and technical help. Once the Centre’s sanction is obtained, the land acquiring procedures will start. Railway will also return Rs 3000 crore collected as GST and invest it as share in the company that will take up the project.

Rs 56,442 crore is the estimated cost of the project. This may rise to Rs 65,000 crore when the project gets completed in the expected 5 years. As the project has been included official programmes of the Centre’s planning and finance department, it is likely to get quick loan from Japan agency Jaika.

The project may require more than Rs 35000 cr foreign loan; the interest is 0.2 to 1 percent and the term for repayment is up to 50 years.It will also get a moratorium of 10 years.

DPR will be ready by November. There will be a survey of the land using helicopters and drones, shortly. The State will have to expend Rs 8000 crore to acquire 1226.45 hectare.

As there will be service roads on either side of the rail line, the development of nearby area is possible and the project, once realized, can create 11,000 employment opportunities.


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