Work on Kochi metro’s Kakkanad extension has been affected due to the delay in getting government funds and AIIB loan. A worksite at Palarivattom.
| Photo Credit: R.K. Nithin

The scheduled completion of the viaduct for Kochi metro’s 11.20 km Kakkanad extension by June 2026 could be upset if there is continued delay in getting the much-needed loan from Asian Infrastructure Investment Bank (AIIB), the lending agency for the project, and in the timely transfer of the equity share assured by the State and the Centre, it is learnt.

The barricaded, yet idle work sites of the ₹1,957 crore extension, which will link the city with Infopark in Kakkanad, have faced flak in recent months, particularly from motorists caught in traffic snarls. The viaduct work was awarded for ₹1,141 crore.

In response to concerns about the loan, official sources said the metro agency hoped to receive it, albeit belatedly, by March. “The timely disbursement of the loan, along with continuous funding from the Centre and State, is critical to expedite the construction of the viaduct. It seems the bank is being cautious with the loan, likely because this is its first project funding in Kerala,” they said.

They added that funding agencies were now more cautious and had tightened procedures for loan sanctions after noting that, in some instances, such loan amounts had been diverted for alternative uses in a few other States.

Many were also hesitant to permit advance payments and preferred to release funds only after the sanctioned work was completed. Efforts were being made to persuade the bank, as well as the State and Centre, to ensure that work on the metro extension did not face further delays.

However, tender processes are under way to prevent delays in the various components of the crucial extension to the IT hub, it is learnt. Kochi Metro Rail Limited had opted for smaller metro stations in the Kakkanad extension, which was christened the metro’s Pink Line, to rein in capital expenditure.

The project cost of ₹1,957 crore includes expenses for land acquisition, the viaduct, stations, and taxes. The State government had approved the project in 2019, followed by the Centre in 2021.