Union Cabinet approves Proposal for Extension of Corridor-1 of Chennai Metro Rail Project Phase-I
The project will be executed by the existing SPV of Government of India and the Government of Tamil Nadu having 50:50 equity of Chennai Metro Rail Ltd.
The Union Cabinet on 1 June 2016 approved the proposal for Extension of Corridor-1 of Chennai Metro Rail Phase-I Project from Washermanpet to Wimconagar.
It covers a length of 9.051 km at a total cost of 3770 crore rupees.
Highlights of the Proposal
• The project will be executed by the existing SPV of Government of India and the Government of Tamil Nadu having 50:50 equity of Chennai Metro Rail Ltd.
• This extension will provide improved access to public transport for dense population comprising predominantly industrial workers to move towards the central business district of the city for work.
• In the total project cost, Government of India's (Gol) share will be 713 crore rupees and Government of Tamilnadu's (GoTN) share will be 916 crore rupees.
• The share of GoTN included cost of Land and R&R of 203 crore rupees.
• The balance amount of 2141 crore rupees will be met from loan from multilateral/bilateral/domestic funding agency.
• The estimated ridership will be 1.6 lakh passengers per day in first year of operation.
• The project is scheduled to be completed by March 2018.
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