JICA keen to fund monorail project

 

 

Chennai:

Japan International Cooperation Agency has expressed its keenness to consider funding Tamil Nadu’s monorail project in the city.

Deputy chief representative of JICA, Ichiguchi Tomohide told reporters on Friday that if the state government approaches JICA for funds we will consider the proposal.

“We haven’t heard from the state government. They are planning to go in for public private participation model. Private financing for such a project won’t be possible. If they come to us, we can consider it,” Tomohide said.

He also said that Japan has advantage in the monorail technology. Interestingly, this comes in the wake of state government proposing a monorail project in 2011 at an estimated Rs. 16,000 crore.

Tomohide also said the JICA has yet to get the feasibility report before committing on funding the 162 km Peripheral Ring Road.

The Rs 1,420 crore  Peripheral Ring Road project will run through Singaperumalkoil, Sriperumbudur, Tiruvallur, Thamaraipakkam, Periyapalayam and Puduvayal.

He also said that JICA is planning to fund the expansion of Nemmeli desalination plant. “Talks are in the initial stages,” he said.

He also said Japan has already provided aid of Rs 800 crore under Tamil Nadu Investment Promotion Project (TNIPP). This si part of Japan’s contribution to infrastructure development and policy improvement.

The focus is on infrastructure development of two industrial zones in Chennai. Interestingly, this is first such policy lending programme by JICA, which is planning to target other states in future.