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News Entry# 572764
Today (19:59) Central Government Takes Over Majority Funding of Chennai Metro Phase 2 Project
Entry# 6212251   
  Past Edits
This is a new feature showing past edits to this News Post.
Centre To Fund 65% Of Chennai Metro Phase 2

The Indian government will now finance 65% of the Chennai Metro Phase 2 project, a significant shift from the previous 10% contribution. This includes a loan of Rs 33,593 crore and an additional Rs 7,425 crore in equity and subordinate debt. The remaining 35% will be covered by the Tamil Nadu...
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state government. The Ministry of Finance will renegotiate loan agreements with international agencies, shifting the liability from the state to the central government and changing the flow of funds. The Ministry of Housing and Urban Affairs will now oversee the project, replacing the state government. CMRL will be responsible for repaying the loans after a five-year moratorium, with the state providing support if needed. The project's total cost is estimated at Rs 63,246 crore.

Ab, Central government Chennai Metro Phase 2 project ka 65% finance karega, pehle 10% hi deta tha. Isme Rs 33,593 crore ka loan aur Rs 7,425 crore equity aur subordinate debt include hai. Baki 35% Tamil Nadu state government dega. Ministry of Finance international agencies se loan agreements renegotiate karega, state...
more...
ki liability central government pe transfer karega aur funds flow change karega. Ab Ministry of Housing and Urban Affairs project supervise karega, state government ki jagah. CMRL loans repay karega, 5-year moratorium ke baad, state support dega agar zarurat hui. Project ka total cost Rs 63,246 crore estimate kiya gaya hai.
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