WOW! India’s First Underwater Metro to Be Launched Soon
KMRC is soon to complete its East-West project by March 2022 after a delay of several years doubled costs. The project runs partly under the city's iconic Hooghly River.
Kolkata Metro Rail Corporation is likely to complete its East-West project by March 2022 after a delay of several years doubled costs. The project runs partly under the city's iconic Hooghly River.
Manas Sarkar, MD at KMRC said, “The authority is waiting for a final installment of 200 million rupees ($2.8 million) over the next two years from the Indian Railway Board.” A soft loan of 41.6 billion rupees from Japan International Cooperation Agency helps fund 48.5% of the project.
He further added in an interview at his office in Kolkata, "About 40% of total transport demand will be tackled by these two metro services. It will be a relief for environmental pollution and the city should be much more decongested."
The new metro line is likely to carry about 900,000 people daily, i.e. roughly 20% of the city's population. It will also take less than a minute to cross a 520-meter underwater tunnel. Though, depending on the time of day, it takes around 20 minutes to use the ferry and anywhere upward of an hour to cross the Howrah bridge.
However, the corporation will repay the JICA loan over 30 years after an initial six-year moratorium. The interest rate is between 1.2 percent - 1.6 percent. The East-West metro project is 74% owned by India's Railway Ministry and 26% by the nation's Ministry of Housing and Urban Affairs.