NDB approves US$346.72 million loan for Corridor 4 of Chennai Metro Phase 2

Chennai, India (Metro Rail Today): The board of New Development Bank (NDB) has approved financial assistance of US$346.72 million for implementation of 26.8 km long Corridor 4 of Chennai Metro Rail Project, Phase 2 on 13th December 2022. This loan amount will be utilised to finance the procurement of systems and equipment components for the Corridor 4.

Corridor 4 will connect Light House to Poonamallee Bypass with 30 metro stations. Corridor 4 will spread across the city from east to west hereby creating connectivity to the operating metro lines (Corridor 1 and Corridor 2) and proposed metro lines (Corridor 3 and Corridor 5) catering for east-west traffic movement and integration with other public transport modes.

Upon completion, the corridor 4 will have a design capacity to carry daily 0.5 million passenger trips. The work is likely to be completed by the end of 2026.

With this, the loan arrangement for the Phase 2 of Chennai Metro Rail Project has been finalized from three agencies namely Japan International Cooperation Agency (JICA), Asian Development Bank (ADB) and New Development Bank (NDB).

On December 9, 2022, the board of Asian Development Bank (ADB) had approved a loan amount of US$780 million for the construction of 10.1 kilometres (km) of the elevated section between Sholinganallur to SIPCOT 2, including 9 metro stations and system components for corridor 3; 10 km of the underground section between Lighthouse and Meenakshi College including 9 stations of corridor 4; and 31 km of system components, such as Power Supply, Over Head Lines, MEP, and Telcom, between CMBT to Okkiyam Thoraipakkam.

For more details, please explore the Chennai Metro page of Metro Rail Today.