CHENNAI, India (Metro Rail News): In a significant push to one of the Chennai’s most ambitious transport projects, the state has allocated 3,100 crores for 2020-21 for construction of Chennai Metro Rail Phase 2 Project spanning over 118.9km. The state government has also requested the Centre to approve funding for the project and provide 50% equity share capital as was done for Chennai Metro phase 1 project.
“In the budget for 2020-21, a sum of 3,100 crores has been allocated for the Chennai Metro Rail Project as share capital assistance, subordinate debt and pass-through loan assistance,” said Deputy CM and Finance Minister O Panneerselvam.
During the 2019-20 budget, the state allocated 2,681 crores for the phase-2 project as share capital and debt.
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