KOCHI: A delegation of German government-owned bank KFW, which is on a visit to the city, expressed satisfaction over the proposed water transport development projects, for which it has offered to provide a loan of €70 million, approximately Rs 680 crore.

A presentation on water transport projects was made to the three-member team who held discussions with Kochi Metro Rail Limited MD and Mayor Tony Chammany.

“The KMRL has prepared a draft detailed project report at a cost of Rs 680 crore for modernising the water transport, including introduction of fast and modern boats, modernisation of boat jetties and developing road connectivity within islands. Rs 200 crore will be spent for purchasing modern boats,” KMRL managing director Elias George told the media.

The DPR will be submitted for the approval of finance and transport ministries and the cabinet after which it will be submitted to the KFW. The funds are expected to be released within a year if the documents are submitted to KFW by the KMRL as per schedule.

“It has been a learning exercise for us to know about the climate-friendly urban mobility plan with a focus on water transport,” said Heiko Warnken, Head of Economic Cooperation and Development, German Embassy.

“We are much impressed by the innovative concept to introduce solar-powered, eco-friendly high-speed boats with facilities like Wi-Fi. Once the necessary documents are submitted, a final decision would be taken on releasing the funds,” he said.

According to Felix Klauda, Head of Division, Urban Development and Mobility -South Asia, the meeting with KMRL authorities was fruitful.

An innovative concept proposed is to develop a water corridor exclusively for fast moving vessels. “When waterways are developed, we’ve to consider other stakeholders like fishing community.

The water-corridor will help avoid conflict with other groups who use waterways, as it will be exclusively for modern ferry boats with no entry for fishing vessels and canoes,” said the KMRL MD.