Delhi Metro Rail Corporation (DMRC), and Kochi Metro Rail (KMRL) signed an MoU for the execution of phase I of the Kochi Metro Rail Project.

The agreement is in line with the conditions of sanction of the project, by the Government of India. As per MoU signed, DMRC shall be the responsible executing agency for the project, and KMRL shall oversee the appropriate financial and technical aspects.

DMRC shall invite tenders on behalf of KMRL. Tender documents for works costing more than Rs 10 crore will be finalized by DMRC in consultation with KMRL. Tender acceptance will be done by a Tender Committee comprising DMRC's and KMRL's nominees.

KMRL will recruit and depute upto 30 per cent of the required project execution staff to the DMRC team, and this staff will work under the administrative and technical control of DMRC during the implementation of the venture.

KMRL will pay DMRC a remuneration of six per cent of the estimated project cost, and all the expenses incurred by DMRC relating to the work will be subsumed in this figure. The cost of the work will be deposited by KMRL with DMRC in installments.

Phase I of the Kochi metro rail project involves implementation of metro rail at Kochi in Ernakulam district of Kerala with an estimated investment of Rs 5,200 crore. The venture comprises development of metro rail connectivity with a length of 25.253 km on the Aluva-Thrippunithura stretch on BOT basis.

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