Japan International Cooperation Agency (JICA) has extended an Official Development Assistance (ODA) loan of around Rs 2,000 crore for the fifth phase of the Chennai Metro Project. It also extended a loan of around Rs 1,300 crore for the second phase of Tamil Nadu Investment Promotion Programme.
The loan agreement was signed between Takema Sakamoto, Chief Representative, JICA India Office, and S Selvakumar, Joint Secretary, Department of Economic Affairs, in New Delhi. The fifth phase of the Chennai Metro Project will provide an additional Metro rail system network of around 9 km from Washermanpet to Wimco Nagar in Tamil Nadu’s capital city. This is in addition to the 45 km existing project from Washermanpet to Chennai airport, and Chennai Central to St Thomas Mount. With today’s announcement, the cumulative loan for Chennai Metro increases to Rs 11,000 crore.