The Tamil Nadu Chief Minister Edappadi Palanisamy submitted a letter to Prime Minister Modi during his visit to Tirupur yesterday, urging him to sanction phase II of Chennai Metro Rail Project under a 50:50 joint venture initiative between the Government of India and the Government of Tamil Nadu.
The Tamil Nadu Chief Minister Edappadi Palanisamy submitted a letter to Prime Minister Modi during his visit to Tirupur yesterday, urging him to sanction phase II of Chennai Metro Rail Project under a 50:50 joint venture initiative between the Government of India and the Government of Tamil Nadu.
The letter dated February 10, 2019 states: "In continuation of my earlier letter addressed to you on 21.1.2019, I would like to inform you that the Phase I of Chennai Metro Rail (CMRL) project was implemented on a 50:50 joint venture basis between the Government of India and the Government of Tamil Nadu. This phase has now been completed entirely, though passenger services were functioning since 2015.
The last underground section of 10 km is being inaugurated today (10.2.2019) in this function. The Phase II of Chennai Metro Rail Project was approved by the Government of Tamil Nadu and the same was recommended to the Government of India for approval during April, 2017. After the introduction of the New Metro Rail Policy by the Government of India, the Government of Tamil Nadu revised the Detailed Project Report (DPR) by updating the Comprehensive Mobility Plan (CMP) and alternative analysis for mode of transport, for a length of 118.9 km and was sent to the Ministry of Housing and Urban Affairs (MoHUA), Government of India, with its approval and recommendation for due consideration under the 50:50 joint venture on January 11, 2019.
Out of the total project cost of Rs.69,180 crores, the land cost and state taxes amounting to Rs.13,723 crores is being met by the State Government and the balance cost of Rs.55,457 crores has to be funded by the Government of India (20%), Government of Tamil Nadu (20%) and the funding agencies (60%) respectively. Hence, the Central funding may be to the order of Rs.11,100 crores spread over six years.
The Japan International Co-operation Agency (JICA) has already approved a loan of Rs.20,196 crores and the agreement for the first tranche of loan has also been signed. Moreover, the Department of Economic Affairs has also recommended funding for this project to the tune of Rs.10,351 crores from ADB, AIIB, NDB and World Bank. I request the Prime Minister to direct the Ministry of Housing and Urban Affairs to sanction the Phase II of the Chennai Metro Rail Project under a 50:50 joint venture between the Government of India and the Government of Tamil Nadu, as was done for Phase I."
The letter dated February 10, 2019 states: "In continuation of my earlier letter addressed to you on 21.1.2019, I would like to inform you that the Phase I of Chennai Metro Rail (CMRL) project was implemented on a 50:50 joint venture basis between the Government of India and the Government of Tamil Nadu. This phase has now been completed entirely, though passenger services were functioning since 2015.
The last underground section of 10 km is being inaugurated today (10.2.2019) in this function. The Phase II of Chennai Metro Rail Project was approved by the Government of Tamil Nadu and the same was recommended to the Government of India for approval during April, 2017. After the introduction of the New Metro Rail Policy by the Government of India, the Government of Tamil Nadu revised the Detailed Project Report (DPR) by updating the Comprehensive Mobility Plan (CMP) and alternative analysis for mode of transport, for a length of 118.9 km and was sent to the Ministry of Housing and Urban Affairs (MoHUA), Government of India, with its approval and recommendation for due consideration under the 50:50 joint venture on January 11, 2019.
Out of the total project cost of Rs.69,180 crores, the land cost and state taxes amounting to Rs.13,723 crores is being met by the State Government and the balance cost of Rs.55,457 crores has to be funded by the Government of India (20%), Government of Tamil Nadu (20%) and the funding agencies (60%) respectively. Hence, the Central funding may be to the order of Rs.11,100 crores spread over six years.
The Japan International Co-operation Agency (JICA) has already approved a loan of Rs.20,196 crores and the agreement for the first tranche of loan has also been signed. Moreover, the Department of Economic Affairs has also recommended funding for this project to the tune of Rs.10,351 crores from ADB, AIIB, NDB and World Bank. I request the Prime Minister to direct the Ministry of Housing and Urban Affairs to sanction the Phase II of the Chennai Metro Rail Project under a 50:50 joint venture between the Government of India and the Government of Tamil Nadu, as was done for Phase I."