The Asian Infrastructure Investment Bank (AIIB) has sanctioned a significant loan of USD 122.32 million (approximately ₹1,025.21 crore) on August 21, 2024, to advance the Kochi Metro Phase 2 project. This financial endorsement represents a pivotal step in the development of Kochi’s metro network, poised to substantially enhance urban mobility within the city.
Kochi Metro Phase 2, spearheaded by Kochi Metro Rail Ltd. (KMRL), involves the construction of an 11.2-kilometre elevated corridor, designated as the Pink Line. This expansion will introduce 11 new stations extending from JLN Stadium to Kakkanad and the Smart City (Infopark). The initiative aims to improve transportation efficiency, linking critical nodes across Kochi and alleviating traffic congestion. Commencement of construction for Phase 2 began in July 2024, with Afcons Infrastructure securing the contract valued at ₹1,141.32 crore. The project is set against a stringent timeline, with a completion target of 600 days, reflecting the urgency and scale of the expansion efforts. The rapid progression of this phase underscores the strategic importance of the metro extension in bolstering the city’s connectivity and infrastructure.
The infusion of AIIB funds is expected to significantly accelerate the project’s momentum, ensuring timely execution and operational readiness of the new metro line. This financial backing aligns with the broader objectives of enhancing urban transit systems and fostering sustainable urban development in Kochi. The approval of this loan marks a crucial advancement in the realisation of Kochi Metro Phase 2, reinforcing the commitment to modernising the city’s transport infrastructure and improving commuter experiences.
