5 days ago
- Business
- New Indian Express
Centre releases Rs 3,000 crore for Chennai Metro Phase 2 in current financial year
CHENNAI: The Union government has released Rs 3,000 crore towards the Chennai Metro Rail Phase 2 project in the current financial year, according to a Right to Information (RTI) disclosure.
The funds, disbursed by the Ministry of Housing and Urban Affairs as of 28 July, are part of a total central outlay of Rs 8,445 crore for the Chennai project this year.
The release includes the full equity contribution of Rs 1,841.2 crore, Rs 158.8 crore in subordinate debt, and Rs 1,000 crore in pass-through assistance sourced from external loans, as per the ministry's reply to RTI activist Dayanand Krishnan.
The Chennai Metro's Phase 2, spanning 118.9 km across three corridors, is one of the largest metro infrastructure investments currently underway in India.
After years of bureaucratic delays, the project was formally approved as a Central Sector Scheme in October 2024, significantly altering the funding model and accelerating central support.
