The Japan International Cooperation Agency (JICA) has recently extended Official Development Assistance Loan (ODA) of Rs.2,000 crore to Chennai Metro Rail Limited (CMRL) for construction of the Mass Rapid Transport System. An agreement in this connection was signed in New Delhi between chief representative, JICA India, Takema Sakamoto, and Joint Secretary, Department of Economic Affairs, S Selvakumar. In its entirety, JICA has so far extended Rs.9,000 crore in concessional ODA loans over four tranches since 2008, for the development of around 45 km of the metro rail system in Chennai and with the latest clearance, the cumulative credit taken for the Chennai Metro Rail Project amounts to around Rs.11,000 crore. Official sources said that funds have come at a time when work is being carried out in the 3.2 km stretch from Tollgate-Thangal-Tondiarpet and Gowri-Ashram-Wimco Nagar-Tiruvottriyur. The extension of Corridor 1 connects growing northern part of Chennai (i.e. Korukkupet, Tondiarpet, Tiruvottriyur, etc.) with Chennai’s central area. The Chennai Metro is integrated with other forms of public and private transport, including buses and suburban trains to facilitate seamless travel for the masses of the city.
📅Published on:
07 April 2017
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