For the Chennai metro rail project phase-2, Rs 3100 crores allotted
Posted on: 15/Feb/2020 9:57:08 AM
Chennai Metro Rail Project phase-2 spanning across 118.9 km is one of the ambitious transport projects of the state government. For 2020-21, an amount of Rs 3100 crores has been allocated for this project by the state government. For the fund approval purpose, the state government has requested the centre and also for the sake of 50 percent equity share capital just similar to phase-1
It was mentioned by the deputy chief minister of TN, Mr O. Paneerselvam that in the budget estimates for 2020-21 a sum of Rs 3100 crores has been allocated for Chennai metro rail project as share capital assistance, subordinate debt and pass-through loan assistance. It must not be forgotten that during 2019-20 budget the state allocated Rs 2681 crores for the metro rail phase-2 project as chare capital and debt.
For the stretch of 52 km from Madhavaram to Sholinganallur and from Madhavaram to CMBT in Koyambedu, funds have been obtained from the JICA or Japanese International Co-operation Agency. Soon, the construction work on the project would start as the detailed designs are ready. The deputy chief minister of TN later revealed that the government accords high priority to the fast implementation of the 3 metro rail corridors of the total length of 118.9 km.
