Kozhikode : The Centre green signals Kerala to apply for overseas borrowings for the state's ambitious semi high-speed rail project, Silverline, that will make travel from Kasaragod toThiruvananthapuram a matter of just four hours. The permission for state govt to approach Union Finance Ministry for overseas loan was handed to Kerala Rail Development Corporation Ltd (K-Rail) by Union Rail Ministry, NITI Ayog and Committee under the Union Finance Ministry.
Earlier, the Centre asked State for details on the plan it submitted, following which the rightist media houses and Opposition set forth huge propaganda that NITI Ayog had scrapped the Silverline project after finding it unfeasible.
As a matter of fact, Kerala had gained Centre’s in-principle approval for its dream project Silverline early on. The Rs 63,941 cr- project, slated to be complete in 5-year time relies heavily on loan from foreign agencies and applying for such loans abroad mandates the Finance Ministry’s consent.
To apply for a loan it is also essential for representatives of foreign lenders to inspect the area marked for the project and make a thorough study of the Detailed Project Report(DPR). After that comes true, it would become possible to apply for the loan through Union Home Ministry. These procedures will take an year’s time, said K-Rail MD Ajit Kumar. Meanwhile, steps are being taken to obtain full-fledged approval from the central govt, he added.
Silverline is designed to revive state economy rendered sluggish from Covid conditions. The rail lines of Silverline project will deviate from existential lines between Thiruvananthapuram and Tirur. From there, the rail will run parallel to existing lines up to Kasaragod. Stations comprise : Thiruvananthapuram, Kollam, Chengannur, Kottayam, Ernakulam, Thrissur, Tirur, Kozhikode, Kannur and Kasaragod.
