Chennai (Metro Rail News): Chennai Metro Project progressed as Rs. 8,445.8 Crore has been sanctioned for the Chennai Metro Phase 2 this financial year. For the very first time, Chennai has received the highest allocation among all metro projects in the country.
The recent development follows the approval by the Centre in October 2024 to categorise the project as a centrally-assisted initiative, marking the alleviation of more than three years of financial clearance delays that had necessitated the state to independently bear the associated costs.
Initially, Tamil Nadu was reluctant to assume the entire borrowing responsibility, as this could adversely affect its debt ceiling, leading to delays of 10 to 14 days in settling contractor invoices.
However, since the Centre’s involvement, financial constraints have been effectively addressed, according to a senior official from Chennai Metro Rail Limited (CMRL). The official noted that contractor bills generally range from 20 crore for elevated corridors to 40 crore for underground segments.
Airport-Kilambakkam Corridor Gets Approval From State Govt.
The Tamil Nadu state Government has approved the long-pending Airport-Kilambakkam metro extension. The Airport-Kilambakkam metro corridor spans 15.4km and is estimated to cost Rs.9,335 crore. The Detailed Project Report (DPR) of the project has now been sent to the Centre for its approval.
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