The Asian Development Bank (ADB) and the Government of India inked a loan agreement for $350 million to construct three new metro lines in Chennai on January 3.
The loan is a component of the $780 million multi-tranche financing facility (MFF) for developing three new metro lines in Chennai that ADB approved on December 8 2022.
The Chennai Metro Rail Investment Project would help to expand its current metro rail network in Chennai, the capital of Tamil Nadu on India’s southeast coast.
The investment project supports three new metro corridors, 3, 4, and 5, linking Chennai’s centre region to essential locations in the city’s south and west.
The 10.1 km elevated portion of Corridor 3 between Sholinganallur and State Industries Promotion Corporation of Tamil Nadu-2, as well as nine metro stations and other system elements, will be built as part of the project.
