Japan International Cooperation Agency (JICA) has extended the ODA loan of EUR 278 million to the Chennai Metro Rail Ltd. (CMRL) for building the metro system.
JICA has extended EUR 1.25 billion in concessional ODA loans over four tranches since 2008 for the development of around 45 km metro rail system in Chennai. By adding this loan, the total loan amount for Chennai Metro currently amounts to EUR 1.53 billion.
“When completed, this project will provide improved access to public transport for the dense population comprising predominantly industrial workers to move towards the central business districts of Chennai for work. It will cover the centre business district area and residential cum institutional complex area of Chennai Metropolitan Area,” Takema Sakamoto, Chief Representative, JICA India Office said.
The project will provide the additional metro network of around 9 km as an extension of Corridor 1 from Washermanpet to Wimco Nagar, in addition to approximately 45 km in the existing project from Washermanpet to Chennai Airport (Corridor 1) and Chennai Central to St. Thomas Mount (Corridor 2).
The extension of Corridor 1 is connecting growing northern part of Chennai with city’s central area.
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