Chennai metro phase 2, Centre to bear 65 percent estimated cost

The Centre on Saturday, October 5 said it will finance almost 65 per cent of the estimated cost of Chennai Metro Phase 2 (total cost Rs 63,246 crore).

This financing will include the entire required loan of Rs 33,593 crore besides the equity and subordinate debt of Rs 7,425 crore, according to a ministry of finance statement. The balance 35 per



cent of the estimated cost will be financed by the state.

The Union Cabinet on Thursday approved the Chennai Metro Rail Project Phase 2, comprising three corridors with Rs 63,246 crore outlay. The approval has freed up budgetary resources of the state to finance other development activities to an extent of Rs 33,593 crore, informed the ministry.