Delhi Metro Rail Corp (DMRC) and Kochi Metro Rail Ltd on Thursday signed an agreement for execution of the first phase of Rs. 5,100-crore Kochi Metro project.
The first phase of the project aims at building transport system of about 25 km from Aluva to Pettah in the city.
Managing Directors of DMRC and KMRL--Mangu Singh and Elias George -- signed the agreement at New Delhi in the presence of Sudhir Krishna, Secretary (Urban Development) and chairmen of both DMRC and KMRL, a press release here said.
The agreement attempts to balance the roles and responsibilities of KMRL as the project owner and the client, as well as of DMRC, the executing agency, and is also in line with the conditions of sanction of the project by the Union government, according to the release.
DMRC shall be responsible to execute the works as the executing agency.