Thiruvananthapuram : The state government informed the centre on its readiness to assume guarantee for foreign borrowings required to complete K-Rail’s semi high-speed rail project - Silverline. The assurance was conveyed to the Finance Minister by Traffic Secretary KR Jyotilal. The state government began land acquisition processes following in-principle nod lend by Central Government and Railway Ministry for the Rs 63,941 crore project.
Once operational, Silverline will make it possible to travel 529.45 km spanning 11 districts from Thiruvananthapuram to Kasaragod in just 4 hours. The project will complete in 5 years from its commencement. The state expects Rs 33,700 crores in overseas loan for the project and Kerala’s assurance of assuming guarantor’s role comes against inquiry as to who will stand guarantee to the loan – the central govt or state ?
The state earlier convinced centre how the project will stimulate the state economy that's reeling from the pandemic. The project is based on green energy and is wholly environment-friendly, said state in its letter.
