New Delhi: The Union Cabinet on Wednesday gave its approval to the proposal for Chennai Metro Rail Phase-I Project from Washermanpet to Wimconagar, which covers a length of 9.051 km, at a total cost of ₹3,770 crore.
The project will be executed by Chennai Metro Rail Ltd, the existing special purpose vehicle of the Centre and Tamil Nadu having 50:50 equity each. The project is scheduled to be completed by March 2018. This extension will provide improved access to public transport for dense population comprising predominantly industrial workers to move toward the central business district of the city for work, an official release said.
In the total project cost, Centre’s share will be ₹713 crore and Tamil Nadu’s share will be ₹916 crore. The balance of ₹2,141 crore will be met from loans from multilateral /bilateral/domestics funding agency. The estimated ridership will be 1.6 lakh passengers a day in the first year of operation.
The Cabinet also approved signing a memorandum of understanding (MoU) between India and Qatar for multiple areas, such as cooperation in skill development and recognition of qualifications; in tourism, which will create favourable conditions for long-term co-operation; in customs matters, apart from entering into a bilateral agreement on co-operation in customs matters.
The aim is to help with information to prevent and investigate customs offences. It is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries, said the release.
In another move, the Cabinet Committee on Economic Affairs has given its approval for a new broad gauge line between Mau Station of North Eastern Railway and Tarighat Terminal station of East Central Railway. The total length of this new line will be 51 kilometres, with an estimated project cost of ₹1,765.92 crore and expected completion cost of ₹2,109.07 crore, with 5 per cent escalation a year. The project is likely to be completed in the next six years, the release added.