Chennai metro project cost likely to rise 23%

Phase I expected to be ready by 2013

The cost of Chennai Metro Rail project is likely to increase 23 per cent. The project, which was estimated at Rs 14,600 crore would now cost around Rs 18,000 crore.

V Somasundaram, chief general manager of Chennai Metro Rail Limited (CMRL), while stating this said the project was expected to reduce the commute time by 75 per cent from one end of the city to another.

CMRL is a special purpose vehicle formed to execute the project.

A detailed feasibility study has been carried out and seven corridors have been prioritiesd. Traffic survey on three main corridors too has been done. The state government would to take up corridors I and 2 under Phase I, which is likely to be completed by 2013 . Corridor 3 would be taken up in Phase II.

This would be the first metro project in the country to integrate with other modes of public transportation.

Speaking on the sidelines of Connect 2010, an ICT event organised by the Confederation of Indian Industry, he said the share of public transport had reduced from 60 per cent in 1992 to 35-40 per cent now. “This should be ideally around 70 per cent.”

The metro would connect the Chennai Mofussil Bus Terminus, Koyambedu, considered to be the largest interstate bus terminus in Asia handling around 2,000 buses and 200,000 passengers a day.

The project will also connect Chennai International Airport, Chennai Central and Egmore railway stations and other public transportation systems and business hubs.

The total length would be 43 km of which 20.5 km would be the elevated route and 22.5 would be underground.

Somasundaram said 59 per cent of the funding would come from the Japan International Corporation Agency, 20 per cent from the Centre while the state would contribute 21 per cent.