Centre signs loan agreement with JICA for Chennai Metro, Phase II

January 2, 2019

The Government of India has signed a loan agreement worth Rs 47.61 billion (Yen 75.519 billion) with the Japan International Cooperation Agency (JICA) for Tranche I of the loan for the Chennai Metro Rail Project, Phase II. Besides, JICA has also approved funds to the tune of Rs 201.96 billion for the Madhavaram-Sholinganallur and Madhavaram-CMBT stretches under the project. The project involves expansion of the metro rail network in Chennai by 107.55 km. It comprises three corridors and 104 stations and is expected to be completed by 2026.