Chennai:
Only 50 per cent of the second phase of Chennai Metro Rail will be initially funded by Japan International Cooperation Agency and tenders are likely to be awarded in the financial year, according to Pankaj Kumar Bansal, Managing Director of Chennai Metro Rail.
Speaking on ‘Can the Metro Rail Transform Chennai’ organised by Chennai International Centre at Madras School of Economics on Friday evening, Bansal said that only 50 per cent of the 107km stretch project will be taken up in the first phase after which Tamil Nadu government will either seek funding from JICA or from other sources.
Chennai Metro Rail has submitted a revised Detailed Project Report seeking Rs 80,000 crore for implementing the Second Phase of Chennai Metro which will have three corridors. These include Madhavaram-Siruseri, Chennai Mofussil Bus Terminus (CMBT)-Lighthouse and Madhavaram-Sholinganallur. “We are also in the process of revising the proposal to extend the Chennai Metro Rail line from the Lighthouse near Marina Beach to Poonamallee in the city outskirts at an additional cost of 3,850 crore,” said Bansal.
This comes as Tamil Nadu government is on the verge of sealing an agreement with Japan International Cooperation Agency (JICA) by the end of this financial year.
Bansal said the Second Phase once implemented will take seven to eight years to complete. Hitting out at criticism on Chennai Metro fares, Bansal said that the fares are reasonable as 55 per cent of the Chennai Metro is underground stretch when compared with Delhi Metro which consists of 15 per cent underground stretch. “The cost and maintenance of underground stretch is 10 times more than elevated stretch,” he said.
He said the common ticketing will be introduced soon. Currently, trials are going on with ticketing machine in MTC buses. “There are also some software issues which are being resolved,” he said.
He also said that once Chennai Metro Rail starts operating from North Chennai, there will be renewed interest in developing that part of Chennai, which is ignored as it is too congested and not accessible.
He also said that the total acquisition of MRTS system will take place in two to three years. The consultant is likely to submit a report by the end of December. “The entire rolling stock for MRTS will be changed and we will make it like a metro system,” Bansal added.
Only 50 per cent of the second phase of Chennai Metro Rail will be initially funded by Japan International Cooperation Agency and tenders are likely to be awarded in the financial year, according to Pankaj Kumar Bansal, Managing Director of Chennai Metro Rail.
Speaking on ‘Can the Metro Rail Transform Chennai’ organised by Chennai International Centre at Madras School of Economics on Friday evening, Bansal said that only 50 per cent of the 107km stretch project will be taken up in the first phase after which Tamil Nadu government will either seek funding from JICA or from other sources.
Chennai Metro Rail has submitted a revised Detailed Project Report seeking Rs 80,000 crore for implementing the Second Phase of Chennai Metro which will have three corridors. These include Madhavaram-Siruseri, Chennai Mofussil Bus Terminus (CMBT)-Lighthouse and Madhavaram-Sholinganallur. “We are also in the process of revising the proposal to extend the Chennai Metro Rail line from the Lighthouse near Marina Beach to Poonamallee in the city outskirts at an additional cost of 3,850 crore,” said Bansal.
This comes as Tamil Nadu government is on the verge of sealing an agreement with Japan International Cooperation Agency (JICA) by the end of this financial year.
Bansal said the Second Phase once implemented will take seven to eight years to complete. Hitting out at criticism on Chennai Metro fares, Bansal said that the fares are reasonable as 55 per cent of the Chennai Metro is underground stretch when compared with Delhi Metro which consists of 15 per cent underground stretch. “The cost and maintenance of underground stretch is 10 times more than elevated stretch,” he said.
He said the common ticketing will be introduced soon. Currently, trials are going on with ticketing machine in MTC buses. “There are also some software issues which are being resolved,” he said.
He also said that once Chennai Metro Rail starts operating from North Chennai, there will be renewed interest in developing that part of Chennai, which is ignored as it is too congested and not accessible.
He also said that the total acquisition of MRTS system will take place in two to three years. The consultant is likely to submit a report by the end of December. “The entire rolling stock for MRTS will be changed and we will make it like a metro system,” Bansal added.
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