Chennai metro ph II project to cost Rs 36,000 cr
According to a senior official of CMRL, Chennai Metro Rail Ltd (CMRL) has zeroed in on three corridors for the Phase-II development which is estimated to cost around Rs 36,000 crore.
R Ramanathan, director – projects, CMR informed about the estimates above and the three corridors of the project which will run across 60 kms.
The Japan International Cooperation Agency, the union government and the state government are funding this infrastructure project, contributing 59%, 20% and 21% respectively.
The entire stretch of Phase-II would be underground.
Earlier, the phase I project, estimated to cost around Rs. 14,600 crore, cost the investors around Rs. 20,000 crore.
The first stretch between Koyambedu and Alandur, which is 10 Km long, will be ready by 2014 end. The St Thomas Mount and Airport section would be ready by 2015. Rest of the project is expected to be completed by December 2016.
This metro project will integrate other public transportation systems, a first in the country. Commuters are likely to save around 75% of their commuting time.
Source: Business Standard
