The Japan International Cooperation Agency (JICA) will extend a loan of Rs 20,196 crore for building over 52 km stretch under Phase II of Chennai Metro Project, said Tamil Nadu government.
In a statement, the government said the estimated cost of this length (35.67 km Madhavaram to Sholinganallur and 16.34 km Madhavaram to Chennai Mofussil Bus Terminus) is Rs 40,941 crore.
The loan assistance from JICA will be Rs 20,196 crore.
The loan agreement for providing the first tranche under the Official Development Assistance (ODA) loan of 75,519 Million Japanese Yen (approximately Rs 4,770 crore) between Government of India and JICA, the statement said.
--IANS
vj/prs
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app