Home / News / India /  ADB approves $780 million loan to expand Chennai metro network

With an aim to build new lines and improve the connectivity of metro rail services in Chennai with the city’s existing bus and feeder services, the Asian Development Bank (ADB) approved on Thursday a $780 million multi-tranche financing facility (MFF).

“This project will expand Chennai’s metro rail system to provide a safe and integrated transport solution essential in improving urban mobility and making the city more livable," said ADB Senior Transport Specialist for South Asia Andri Heriawan.

“By fostering a shift to less greenhouse-gas-emitting metro systems, it will also benefit climate change mitigation and, through appropriate design elements, improve resilience to climate change," the senior functionary added.

The international organization which is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific also announced a $1 million additional technical assistance (TA) grant to help the Chennai Metro Rail Limited with the planning and management of the metro system’s multimodal integration.

The additional technical assistance will ensure the identification of first- and last-mile connectivity needs and explores opportunities for transit-oriented development to increase revenues through land value capture.

“The project will construct 10.1 kilometers (km) of the elevated section between Sholinganallur to State Industries Promotion Corporation of Tamil Nadu-2, including 9 metro stations and system components; 10 km of the underground section between Lighthouse and Meenakshi College including 9 stations; and 31 km of system components, such as electrical, mechanical, power, and telecommunication infrastructure, between Chennai Mofussil Bus Terminus to Okkiyam Thoraipakkam," ADB said in a press release.

The stations will incorporate disaster- and climate-resilient features and will be responsive to the needs of the elderly, women, children, differently abled, and transgender people.

The Asian Development Bank also informed that to improve consumer experience multimodal interchanges and facilities will be established along metro rail corridors such as drop-off and pick-up areas, sheltered waiting areas, bicycle facilities, and passenger information.


Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less

Recommended For You

Trending Stocks

Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout