JICA to provide loan for part of the project; Centre, State to share remaining cost

Chennai Metro’s phase II project is all set to begin late next year. Japan International Cooperation Agency (JICA) has formally signed the agreement to provide assistance for a part of this project.

Phase II has now expanded from 108 km to 119 km, with the extension of one of the corridors by about 11 km all the way to Poonamallee.

On Friday, C.S. Mohapatra, Additional Secretary, Department of Economic Affairs, Ministry of Finance, and Katsuo Matsumoto, Chief Representative, JICA, New Delhi, signed a loan agreement to this effect.

“The notes were exchanged today between Mr. C.S. Mohapatra, and H.E. Mr. Kenji Hiramatsu, Ambassador of Japan to India, on Japanese official development assistance loan for Chennai Metro Project (Phase II) (I) for JPY 75.519 billion,” a press release said.

According to sources, the first portion of the loan will reach in a few weeks and tenders for phase II project may be floated by July next year and work is likely to begin by November. With three stretches, Madhavaram to Shollinganallur, Light House to Poonamallee and Madhavaram to Siruseri, the entire cost of phase II is estimated at ₹69,000 crore.

In these three stretches, the stretch from Light House had to end at CMBT but the government recently announced that it will be extended to Poonamallee.

Three stretches

Of this 119 km, only 52 km — Madhavaram to CMBT and Madhavaram to Shollinganallur — will be taken up first, at a cost of about ₹40,000 crore and the loan from JICA will cover a part of this cost.

The remaining expenses will be shared by the State and the Centre.

The other stretches will be constructed subsequently after finalising the funds and the design.

“The detailed design which shows all aspects of every Chennai Metro station and the areas is getting ready for these two stretches. Meanwhile, the land acquisition process and the soil tests are on in various parts of the city,” an official said.