KMRL, govt sign MoU for Water Metro operations
The Hindu
₹747-crore project envisages 78 boats linking 10 islands
Kochi Metro Rail Limited (KMRL) has signed a memorandum of understanding (MoU) with the State government to set up a special purpose vehicle (SPV) to operate, maintain and manage Water Metro, the passenger ferry system. The MoU was signed in Thiruvananthapuram on Tuesday by Chief Secretary V. P. Joy and KMRL Managing Director K. R. Jyothilal. The SPV, called Kochi Water Metro Limited (KWML), will be a joint venture of the State government and KMRL. The government’s equity contribution will be 74% and KMRL’s share will be 26%.
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