AIIB approves loan for Chennai Metro Rail Phase -2 project

Chennai, India (Metro Rail Today):  The Asian Infrastructure Investment Bank (AIIB) approved a $356.67-million, which is approximately 2688 crores (INR) loan from the Indian Government to support the expansion of the metro rail network in Chennai on October 26, 2021. This work involves the construction of a new corridor as part of Phase 2 of the Chennai Metro Rail.

D.J. Pandian (AIIB’s vice president of investment) said,

 

The new Corridor-4 of Chennai Metro is 25 kilometers long, where we fund the first 16 kilometers. This project is in line with AIIB’s mission to support high quality and sustainable infrastructure. The development and integration of the transport sector in Chennai will boost trade and economic growth.

The design and construction of the project will have environmentally friendly features to help reduce its carbon footprint. In addition to the solar panels installed on the roof of the high stations, the project will have dedicated areas for green bikes and cars as well as environmental awareness signs. The project also incorporates climate change mitigation measures to reduce its risk of climate change.

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