The Tamil Nadu Cabinet, which met under Chief Minister M Karunanidhi on Wednesday, approved the proposal to implement a 46-km long metro rail project for Chennai at an estimated cost of Rs 9,757 crore.
The Government would seek financial assistance from the Centre to implement the project. Besides, the Japan Bank for International Co-operation was also expected to fund the project, an official release stated.
The project would be implemented through a special purpose vehicle, ‘Chennai Metro Rail Ltd,’ to be jointly set up by the State and the Centre.Of the total 46.5 km stretch, about 20 km will be underground, it added.
