The Cabinet Committee on Economic Affairs (CCEA) has given its approval to the Chennai Metro Rail Project at a meeting held in New Delhi on 28 January.

The Rs.14,600 crore project to be implemented by Chennai Metro Rail is likely to be completed in 2014-15. Around 59 per cent of the cost will be met by Concessional Official Development Assistance loan from the Government of Japan. The Central government will contribute 15 per cent of the project cost as equity and 5 per cent as subordinate debt. The remaining share of the cost (21 per cent) will be met by the state government in the form of equity (15 per cent) and subordinate debt (6 per cent).

As part of the project, two corridors with a combined length of 45 km will be constructed in Phase I. The first corridor will be from Washermanpet to Chennai Airport, covering 23.1 km and including an underground portion of 14.3 km and 8.8 km will be elevated. The second corridor from Chennai Central to Saint Thomas Mount will be 22-km-long and include an underground stretch of 9.7 km and 12.3 km elevated portion.

Also See:

Centre to approve Chennai metro soon (22-Dec-08)