Govt approves loan for Kochi corporation main office construction
Kochi: Govt has given nod for the cash-strapped Kochi corporation to take a loan of Rs 25 crore to complete construction of its main office at Chathiyath on Marine Drive. The work has progressed rapidly in recent months and is expected to be ready for commissioning by the end of the year.
Although the local body sought approval from state govt to take a loan of Rs 25 crore in 2023, govt requested clarity on certain issues. When local-self govt (LSG) chief engineer reviewed the loan details, it was found that the estimate for exterior furniture was excessively high. LSG authorities also raised various questions regarding the loan, causing a delay in availing the loan.
According to corporation authorities, they adopted alternative means of raising funds. "We could use more than Rs 10 crore from central grant and complete the work. The remaining work may require up to Rs 15 crore," said a source within the corporation. "We are exploring other means to raise the remaining funds. We will consider availing of a loan only if we are unable to raise funds through other means," the source added.
Corporation officials stated that around 90% of the work on the civil structure has been completed. "Work on the building should be completed at the earliest. At the same time, there should be proper monitoring while carrying out the work. Based on the nature of the work carried out so far, it is evident that corporation spent extra money on unnecessary and unavoidable works," said corporation UDF parliamentary party secretary MG Aristotle.
The work, which began in 2005, was delayed for years due to various reasons.
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