Kochi Metro-An Overview

Kochi Metro-An Overview

The city of Kochi has been asking the government and its Mayor as well as Corporation for a long time to solve its traffic & infrastructure problems by installing a mass transit system in place. The population has risen rapidly, there have been unacceptable and unpredictable journey times by road etc.; necessitating the need of a metro rail system. Almost all cities in Western countries and India have metro rail, (some of them for decades) so why can’t Kochi?

Obviously, in these kind of projects, a lot of time would go in planning & research. So, construction finally started in June, 2013 and the completion of first phase and initial operations started on June 17, 2017.

A total of 25 stations have been planned along the two lines. The Vyttila Mobility Hub would serve as one of the interchange stations. It serves the purpose of changing trains as both are in opposite corners of the town.

Look at the features of the stations. There will be an automatic fare collection system, automatic announcement system, electronic information display boards. These terms were only used/heard in European/American towns. Facilities are being made so that the stations will be easily accessible to physically handicapped persons. Wi-Fi facility, an important feature for the growing population of smartphone-users is also being planned at some of the stations.

Metro Rail Systems around the world all have been proven to be eco-friendly and cause low energy consumption. The latter is very important as the state faces frequently short-power crisis. State-of-the-art electric systems have been put into place to avoid energy crunches. A very important stat is that energy consumption of the Kochi Metro will be one-tenth as that of the city's road traffic. This adds to the importance of it. Also, it saves fuel; thus playing a major part in reducing the city’s pollution levels, caused by automobile exhaust. KMRL is also planning to use solar power for five of its stations on the elevated corridor. Thus, they are doing their incentives for “Green Energy”.

Middle East Infrastructure Development Bank

Middle East Infrastructure Development Bank

A report recently mentioned that infrastructure investments in the region would exceed $105 billion. This would translate any figure between 5% to 10% of the respective country’s GDP. We all know the importance of infrastructure investment- it can easily create jobs, future economic growth and plug in gaps. This is where an infrastructure investment bank comes into play. While there have been many institutions which were started with similar intentions, there must be a renewed focus on improving the existing infrastructure to supplement the implementation of the UAE Vision 2021, Saudi Vision 2030 plan and Qatar National Vision 2030.

The primary aim of this bank must be to develop local currency and SME financial markets. For a developing economic region such as the GCC, the Middle East Development Bank would attract investors and entrepreneurs, develop human resources and industries, propagate formation of required technical services and in short accelerate the economic development of the region. It must also be able to fund infrastructure projects which cross borders to promote regional economic integration. It can also help in reducing foreign debt of all the countries as well as finance the development of housing sector.

 Apart from carrying out these functions, this bank must also guide Middle East countries on financing and promoting private participation in infrastructure (as well as generally in private sector as well). They can also help the governments to implement these policies and offer training to commercial banks for regulation and regional development. The Middle East Development Bank can also serve as an ancillary support to Western institutions such as World Bank while cofunctioning with the ‘New Development Bank’.

GCC countries’ development plans would make the world acknowledge the economic powerhouse the region is. But, would the large-scale projects required for implementing the plan be undertaken when commercial banks refuse to associate such projects (as they require both long-term finance and long maturation periods)? Only a development bank can carry these functions. Hence, for the goodwill of the region, a Middle East Infrastructure Development Bank must be started as soon as possible.