ADB Approves $780m Loan Facility To Improve Connectivity Of Chennai Metro Rail
The Asian Development Bank (ADB) today approved a $780 million multitranche financing facility (MFF) to build new lines and improve the connectivity of the metro rail system at Chennai with the city's existing bus and feeder services.
"This project will expand Chennai's metro rail system to provide a safe and integrated transport solution essential in improving urban mobility and make the city more livable," said ADB Senior Transport Specialist for South Asia Andri Heriawan.
"By fostering a shift to less greenhouse-gas-emitting metro systems, it will also benefit climate change mitigation and, through appropriate design elements, improve resilience to climate change." he added
The ADB funding support ongoing project to construct 10.1 kilometers (km) of the elevated section between Sholinganallur to State Industries Promotion Corporation of Tamil Nadu-2, including 9 metro stations and system components.
The loan will also fund10 km of the underground section between Lighthouse and Meenakshi College including 9 stations; and 31 km of system components, such as electrical, mechanical, power, and telecommunication infrastructure, between Chennai Mofussil Bus Terminus to Okkiyam Thoraipakkam.
The stations will incorporate disaster- and climate-resilient features and will be responsive to the needs of the elderly, women, children, differently abled, and transgender people.
Multimodal interchanges and facilities will be established along metro rail corridors to improve commuters' experience such as drop-off and pick-up areas, sheltered waiting areas, bicycle facilities, and passenger information.
ADB will provide an additional $1 million technical assistance (TA) grant to help the Chennai Metro Rail Limited with the planning and management of the metro system's multimodal integration. The TA will support the identification of first- and last-mile connectivity needs and explore opportunities for transit-oriented development to increase revenues through land value capture.
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