The Union Cabinet is likely to clear the much-awaited Rs 14,600-crore Chennai Metro rail project and the over Rs 900-crore water desalination project in the next two weeks, Urban Development Minister Jaipal Reddy has said. The Japan International Cooperative Agency will fund 60 per cent of the project cost, while the central and state governments will contribute 20 per cent each.
He was speaking to reporters at the one-day conference on “Urbanisation – providing affordable housing for all” organised by the CII here on Friday.
About 20 km of the 43-km route planned in the first phase of the project will be underground.
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