Kerala Rapid Transit Corporation Limited, abbreviated to KRTCL, is a

special purpose vehicle A special-purpose entity (SPE), also called a special-purpose vehicle (SPV) or a financial vehicle corporation (FVC), is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, speci ...

(SPV) formed to implement light metro projects in

Kerala Kerala ( , ) is a States and union territories of India, state on the Malabar Coast of India. It was formed on 1 November 1956, following the passage of the States Reorganisation Act, by combining Malayalam-speaking regions of the erstwhile ...

. Kerala has light metro systems planned for the cities of

Kozhikode Kozhikode (), also known as Calicut, is a city along the Malabar Coast in the state of Kerala in India. Known as the City of Spices, Kozhikode is listed among the City of Literature, UNESCO's Cities of Literature. It is the nineteenth large ...

and

Thiruvananthapuram Thiruvananthapuram ( ), also known as Trivandrum, is the Capital city, capital city of the Indian state of Kerala. As of 2011, the Thiruvananthapuram Municipal Corporation had a population of 957,730 over an area of 214.86 sq. km, making it the ...

. The SPV is fully owned by the State Government and the Chief Minister is the Chairman of the company. The head office of KRTCL is at Thiruvananthapuram, with branches at Kozhikode and Thiruvananthapuram. Earlier it was Kerala Monorail Corporation Ltd. Since monorail was not financially viable, DMRC proposed

light metro A medium-capacity system (MCS), also known as light rapid transit or light metro, is a rail transport system with a capacity greater than light rail, but less than typical heavy-rail rapid transit. MCS trains are usually 1 to 4 cars. Most medi ...

. The chief minister,

Pinarayi Vijayan Pinarayi Vijayan (; born 24 May 1945) is an Indian politician who has served as the List of chief ministers of Kerala, Chief Minister of Kerala since 25 May 2016. A member of the Politburo of the Communist Party of India (Marxist), politburo ...

, is the chairman of the board and Public Works Minister P. A. Mohammed Riyas is vice chairman. The other board members are Ministers KN Balagopal, Antony Raju, P Rajeev, K Rajan as well as officials of Public Works and Transport departments.

History

Administrative sanction was given in October 2012 to begin monorail projects in Kozhikode and Thiruvananthapuram. KMCL was given control of the Thiruvananthapuram Monorail project on 26 November 2012. The government had handed over the Kozhikode Monorail project to the KMCL prior to that. The state government received approval to float KMCL from the

registrar of companies A company register is a register of business organizations such as companies in the jurisdiction they operate under. Registration is normally mandated by the government of that jurisdiction. A company register serves a purpose of protection, acco ...

and was incorporated on 5 December 2012. KMCL's first board meeting was held in

on 18 December 2012. At the meeting, it was decided to open KMCL offices in the two cities. On 12 June 2013, the State Cabinet gave clearance for an agreement to be signed between KMCL and DMRC, that would make the latter the general consultant for the monorail projects in Kozhikode and Thiruvananthapuram. The DMRC will receive a consultancy fee of 3.25% of the 5,581 crore ( 3,590 crore for Thiruvananthapuram and 1,991 crore for Kozhikode). The agreement was signed on 19 June 2013.

References

{{Railways in Southern India Rail transport in Kerala Monorails in India Rapid transit companies of India

History

See also

References