The Asian Infrastructure Investment Bank (AIIB) will provide financial assistance of USD 320 million (nearly Rs 2,306 crore) to start construction of 18 km long elevated Metro corridor of Phase-II of Chennai Metro Rail project.
The Metro corridor will be constructed between Meenakshi College in Kodambakkam and Poonamallee Bypass, which is part of the 118.9 km corridor of the Chennai Metro’s Phase-II project. The 18 km stretch between Meenakshi College and Poonamallee bypass is part of 26.1 km corridor of Chennai Metro’s Phase-II which will connect from Light House to Poonamallee Bypass.
The Asian Development Bank (ADB) will fund the rest of the corridor between Light House and Meenakshi College covering around eight km. Earlier, the project executing body Chennai Metro Rail (CMRL) had planned to build Corridor-4 between Light House and CMBT to link core areas of the city including Mylapore, Adyar, Nandanam, T Nagar, Kodambakkam and Vadapalani.
Later, CMRL planned to extend Corridor-4 to cover other areas like Porur, Iyappanthangal, Kumanan Cahvadfi, Karayan Chavadi, and Poonamallee, which were earlier planned to be connected through a monorail system, as the monorail project was not feasible to handle the increasing passenger traffic.
Construction for 52 km long Corridor in Phase-II of the Chennai Metro is expected to begin in June 2020. The corridor is consisting with two underground sections from Venugopal Nagar in Madhavaram to Kellys covering nine km stretch and from Kellys to Taramani Road Junction covering a 12 km route.
The Chennai Metro Rail has recently invited two-package tenders for construction of the underground tunnels. The Japanse financial agency, the Japan International Cooperation Agency, (JICA) will provide financial assistance for construction of the 52 km long stretch between Madhavaram and Sholinganallur and Madhavaram to CMBT.