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News Entry# 559881
Jul 11 (19:07) Chennai Metro's Phase II Project Subject to Japanese Sourcing Requirement Due to Loan Agreement
Metro
CMRL/Chennai Metro
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News Entry# 559881   
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Chennai Metro Rail says it has no choice but to impose tender conditions in favour of Japan

Chennai Metro Rail Limited (CMRL) is legally required to procure 75% of elevators, escalators, and travelators for its Phase II project from Japanese companies due to a loan agreement with Japan International Cooperation Agency (JICA). The loan, amounting to several thousand crores of rupees, carries a 0.01% interest rate and mandates...
more...
this sourcing requirement. The Madras High Court heard arguments from CMRL and Otis Elevator Company, which challenged the tender conditions. The court will continue the hearing on July 22nd.

Chennai Metro Rail Limited (CMRL) ko apna Phase II project ke liye Japanese companies se 75% elevators, escalators, aur travelators kharidna jaruri hai, kyunki Japan International Cooperation Agency (JICA) se liya gaya loan aisa hi condition rakhta hai. Loan, jo ki kai hazar crore rupees ka hai, 0.01% interest rate pe...
more...
diya gaya hai aur ismein yeh shart bhi hai. Madras High Court ne CMRL aur Otis Elevator Company dono ki arguments suni, Otis ne tender conditions ko challenge kiya tha. Court yeh case 22 July ko aage sunwayega.
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