CMRL Issues LoA Worth INR 450 Crores to The SBI for Chennai Metro Phase 2

It will be utilised to procure AFC Gates and the Chennai Metro Phase 2 trains.

CMRL issues LoA to SBI for INR 450 Crores for The Chennai Metro Phase 2
CMRL issues LoA to SBI for INR 450 Crores for The Chennai Metro Phase 2

TAMIL NADU (Metro Rail News): The Rupee Term Loan will be utilised as INR 150 Crore towards Phase-II AFC (Koyambedu to Sipcot) work and INR 300 Crore towards procurement of 30 train cars for Phase-II. This is the first of its kind that Chennai Metro has tied up with domestic commercial banks towards funding requirements of the Phase-II work.

Dr. Prasanna Kumar Acharya, Director-Finance on behalf of Chennai Metro Rail Limited, issued the letter of Award to the State Bank of India, represented by Thiru. Jaleel Hasanath Syed Umar, Additional General Manager SBI, Chennai today (09.01.2024). Thiru. R. Murali, Chief General Manager (F&A), Dr. D. Jebaselwin Gladson, General Manager (CM), Thiru. Hari Ganesh, General Manager (F&A), and other officials were present during the occasion.

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