The State Bank of India (SBI) will provide funds worth Rs. 4.5 billion for the Chennai Metro Rail Project Phase-II. Rs 1.5 billion worth term loan will be utilised for procurement of automatic fare collection (AFC) system for Koyambedu-Sipcot section and Rs 3 billion for procurement of 30 train cars.
The project involves the development of 118.9-km three metro corridors (corridor III, IV and V) in Chennai city of Tamil Nadu. It is mostly underground with an elevated section confined to a few short stretches and consists of 128 stations in total.
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