Chennai, Oct 26 (PTI) Tamil Nadu Chief Minister M K Stalin and Union Urban Affairs Minister Manohar Lal on Saturday reviewed the progress of Rs 63,246 crore Chennai Metrorail phase 2 project, recently approved by the central government.
CM Stalin, speaking to reporters after the meeting said that the state government has urged Manohar Lal to release Centre's funds for the phase 2 project.
In the review meeting, Stalin said that work is progressing quickly for the phase 2 (118.9 km, 3 corridors) project and so far Rs 19,229 crore has been spent. He thanked PM Modi and the Centre for accepting his request and approving phase 2 as central sector project.
The CM said all efforts are being made by his government to complete work as per the deadline.
According to Chennai Metro Rail, phase 2 project is proposed to be completed by the end of 2026. An official release here said the union minister was urged to give priority to proposals related to Chennai airport--Kilambakkam line and implementing Metrorail projects in Coimbatore and Madurai.
Kilambakkam is on the city outskirts and a bus terminus, with a capacity to operate over 2,000 buses, was inaugurated there last year by CM Stalin. On October 3, 2024, the Union Cabinet approved the Chennai Metro Rail Phase 2 project as the ‘Central sector’ project.
With the approval, the central government will be financing almost 65 per cent of the estimated cost of Chennai Metro Phase 2.
The central government had said that financing will include the entire required loan of Rs 33,593 crore besides the equity and subordinate debt of Rs. 7,425 crore. The balance 35 per cent of the estimated cost will be financed by the state government.
CM Stalin, in a post on 'x' said: "Had the pleasure of meeting Hon'ble @mlkhattar to discuss the progress of Chennai Metro Rail's Phase-II project. Expressed our gratitude to the Union Government for accepting my request and approving the 118.9 km expansion and briefed about our efforts towards its speedy implementation. I also sought the Union Government's support in funding the Coimbatore and Madurai Metro Rail projects."
Two corridors under phase 1 covering 54.1 km caters to over 3.1 lakh passengers on an average everyday. When the phase 2 becomes functional, Metro rail in Chennai will cover about 172 km linking various areas.
Chief Secretary N Muruganandam, Additional Secretary, Union Ministry of Housing and Urban Affairs, D Thara and senior officials took part in the review meeting here.