Phase I comprising of 45 kms project was estimated at Rs.14,600 Crore, but has crossed Rs.20,000 Crore
Chennai (MAS): Phase-II of the Chennai metro rail project is estimated at Rs 36,000 crore. Chennai Metro Rail Ltd (CMRL) has zeroed in on three corridors for the Phase-II development, according to a senior official of CMRL.
Speaking to reporters on the sidelines of a conference on ‘Automotive R & D Trends’, organised by the Confederation of Indian Industry (CII) here, R Ramanathan, director – projects, CMRL, said “We have made a presentation to the government for Phase II, which will run across 60 km with three co-corridors. The estimated project cost is around Rs 36,000 crore.”
The state’s largest infrastructure project is being funded by the Japan International Cooperation Agency (59 per cent), 20 per cent by the Union government and 21 per cent by the state government.
The entire stretch of Phase-II would be underground.
Commenting on the Phase-I development, he said, when the project was initiated in 2007, the estimated cost of the 45-km was around Rs 14,600 crore and with a forecasted five per cent increase, the project cost today comes to Rs 20,000 crore.
For example, as against an earlier estimate of Rs 1,000 crore for the land, it now has touched Rs 2,500 crore.
The first 10-km stretch between Koyambedu and Alandur will be ready by 2014 end, while the St Thomas Mount and Airport section would be ready by 2015. Rest of it would be completed by December 2016.
This would be first metro project in the country, which will integrate other public transportation systems.
The project is expected to reduce the commuting time by 75 per cent from one end of the city to another.
Currently, the average bus speed in the city is 17-18 kms per hour. Over the next five years it is expected to come down to 12 km per hour, whereas the maximum allowable operating speed of the vehicles shall be 80 kmph with a maximum design speed of 90 kmph.
Chennai, the fourth largest city in India, connects the city with the suburban rail through arterial roads in the city, including Anna Salai/Mount Road, EVR Salai/Poonamalle High Road and Inner Ring road/ Jawaharlal Nehru Road / 100 feet Road, which the project would connect.