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Chennai Metro | Japan Bank extends Rs 2,000 crore loan to CMRL’s project

Chennai: Japan International Cooperation Agency (JICA) on Friday extended Official Development Assistance Loan (ODA) of Rs 2,000 crore to Chennai Metro Rail Limited (CMRL) for construction of the Mass Rapid Transport System.

An agreement was signed in New Delhi. Takema Sakamoto, chief representative, JICA India and S Selvakumar, joint secretary , department of economic affairs were present at the event.

JICA has so far extended Rs 9,000 crore in concessional ODA loans over four tranches since 2008 for the development of around 45km of the metro rail system in Chennai.

With this loan, the cumulative credit taken for the Chennai metro rail project currently amounts to around Rs 11,000 crore.

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