KIFBI to provide Rs 2,100 loan for Silver Line Rail Project

Kerala Infrastructure Investment Fund Board (KIFBI) will provide a loan of Rs 2,100 crore from the state government to the Silver Line, a semi-high speed rail project. The Department of Transport, on request of KIFB, has issued an order appointing Kerala Rail Development Corporation Limited as a special purpose company for implementing the project.

Thiruvananthapuram: Kerala Infrastructure Investment Fund Board (KIFBI) will provide a loan of Rs 2,100 crore from the state government to the Silver Line, a semi-high speed rail project. The Department of Transport, on request of KIFB, has issued an order appointing Kerala Rail Development Corporation Limited as a special purpose company for implementing the project. KIFBI will provide the loan for land acquisition as 955.1 3 hector land is required for the project.

The semi-high speed rail project will pass through Thiruvananthapuram, Kollam, Alappuzha, Pathanamthitta, Kottayam, Ernakulam, Thrissur, Malappuram, Kozhikode, Kannur and Kasaragod districts of the state. The procedures for land acquisition will be in accordance with the provisions of the Land Acquisition Act, 2013. Special colletors' offices will be set up district wise for acquiring lands.

The Central Green Tribunal had earlier confirmed that no prior environmental clearance is required for the K-Rail project. However, EQMS India Limited has been assigned for Environmental Impact Assessment (EIA) and told them to submit reports within 14 months. The project expecting a cost of Rs 64,000 crore as expenses, will also have to buy Rs 33,700 crore as foreign loans.

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