The Government of India has signed an agreement with the Asian Development Bank (ADB) for a USD 350 million loan to build new lines and improve the connectivity of the metro rail system in Chennai.
Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, and Nilaya Mitash, Officer-in-Charge, India Resident Mission, ADB, have signed the agreement of the tranche 1 loan for the Chennai Metro Rail Investment Project.
After signing the loan agreement, Mishra stated that the project would help expand connectivity of Chennai’s central areas to major destinations in the south and west of the city and integrate the metro system with existing bus and feeder services to benefit thousands of daily commuters.
The investment project supports the development of three new metro lines — 3, 4, and 5. For line 3, the project will construct 10.1 kilometres (km) of the elevated section between Sholinganallur to State Industries Promotion Corporation of Tamil Nadu-2, including nine metro stations and system components.
For line 4, the project will help construct 10 km of the underground section between Lighthouse and Meenakshi College including nine stations.
For line 5, it will finance 31 km of system components, such as electrical, mechanical, power, and telecommunication infrastructure, between Chennai Mofussil Bus Terminus and Okkiyam Thoraipakkam.
The tranche 1 loan is part of the USD 780 million multi-tranche financing facility (MFF) for the project approved by ADB on December 8, 2022, to develop three new metro lines in Chennai.
A statement from the ministry of finance released on Tuesday said the stations would incorporate disaster- and climate-resilient features and would be responsive to the needs of the elderly, women, children, differently-abled, and transgender people.
The ministry said multimodal interchanges and facilities would be established along metro rail corridors to improve commuters’ experience such as drop-off and pick-up areas, sheltered waiting areas, bicycle facilities, and passenger information.
According to the ministry of finance, an additional USD 1-million ADB technical assistance (TA) grant will help the Chennai Metro Rail Limited with the planning and management of the metro system’s multimodal integration.
