Big push for Chennai Metro Rail in the Budget
The HinduIn a big stimulus, Chennai Metro Rail has got ₹12,000 crore for implementing phase II from the State government as part of the Budget estimates for 2024-25. While the total cost of the project is ₹63,246 crore, it operates through funding from the Centre and the State, apart from loans from various banks like Japan International Cooperation Agency, Asian Development Bank and Asian Infrastructure Investment Bank. Though Chennai Metro Rail Limited had submitted the DPR to the State government sometime back, it is being taken up now and they have announced in the Budget, that it will be submitted to the Centre for approval on equity sharing basis. A 27-storeyed iconic building will be built with heritage design opposite Chennai Central Railway Station spanning over 10 lakh sq.ft at a cost of ₹688 crore.