Kerala Rapid Transit Corporation Ltd
|State owned special purpose vehicle|
|Founded||Thiruvananthapuram, Kerala, India (5 December 2012 )|
|Headquarters||Thiruvananthapuram, Kerala, India|
|Kozhikode and Thiruvananthapuram|
|P.I. Sheik Pareeth
|Services||Kozhikode Light Metro
Thiruvananthapuram Light Metro
|Owner||Government of Kerala (51%)
Kerala Road Board Fund (KRFB) (49%)
Kerala Rapid Transit Corporation Ltd, abbreviated to KRTL, is a special purpose vehicle (SPV) formed to implement light metro projects in Kerala. Kerala has light metro systems planned for the cities of Kozhikode and Thiruvananthapuram. The SPV is fully owned by the State Government and the Chief Minister is the Chairman of the company. The head office of KRTL is at Thiruvananthapuram, with branches at Kozhikode and Thiruvananthapuram. Earlier it was Kerala Monorail Corporation Ltd.Since monorail was not financial viable DMRC proposed light metro.
The Chief Minister is the Chairman of the board and Public Works Minister V.K Ebrahim Kunju is Vice Chairman. The other board members are Ministers K.M. Mani, P.K. Kunhalikutty, Aryadan Mohammed, Manjalamkuzhi Ali, M.K. Muneer and V.S. Sivakumar, as well as officials of Public Works and Transport departments.
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 and was incorporated on 5 December 2012. KMCL's first board meeting was held in Thiruvananthapuram 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.
- "Sreedharan likely to be on monorail board". Deccan Chronicle. 2012-12-17. Retrieved 2013-07-18.
- "Kerala forms SPV for monorail projects". Business Line. 2012-10-04. Retrieved 2013-07-18.
- "Mono rail project: Kerala approves Articles of association". Business Line. =PTI. 2012-10-27. Retrieved 2013-07-18.
- "Cabinet approves detailed project report of Kozhikode monorail project". The Times Of India. TNN. 2012-10-04. Retrieved 2013-07-18.
- S. Anil Radhakrishnan (2012-11-27). "Monorail project on track soon". The Hindu. Retrieved 2013-07-18.
- "Registrar's nod for monorail cooperation". The Times Of India. TNN. 2012-12-07. Retrieved 2013-07-18.
- "New company floated for Kerala mono rail project". Business Line. =PTI. 2012-12-06. Retrieved 2013-07-18.
- "Kerala lines up Rs 10710 cr for infra development". Business Standard. 2012-12-07. Retrieved 2013-07-18.
- "Kerala floats new company for mono rail projects". Newstrackindia.com. 2012-12-06. Retrieved 2013-07-18.
- S. Anil Radhakrishnan (2012-12-14). "JICA keen on funding monorail". The Hindu. Retrieved 2013-07-18.
- "Panel to put monorail on track". The Times Of India. 2012-12-19. Retrieved 2013-07-18.
- "KMCL to negotiate with DMRC". The Hindu. 2012-12-19. Retrieved 2013-07-18.
- "English News | Kerala". Manorama Online. 2013-05-23. Retrieved 2013-07-18.
- "Nod for pact with DMRC for monorail". The Hindu. 2013-06-13. Retrieved 2013-07-18.
- S. Anil Radhakrishnan (2013-06-15). "Agreement with DMRC to be signed on June 19". The Hindu. Retrieved 2013-07-18.
- "Kerala Monorail, Delhi Metro ink consultancy agreement". Business Line. 2013-06-19. Retrieved 2013-07-18.