The union government on Wednesday gave its nod for the construction of the nine kilometer Washermenpet-Wimco Nagar extension for phase-I of Chennai Metro Rail project.
The mega project, which will connect north Chennai with the rest of the city, will be implemented at a cost of 3,770 crore.
The project scheduled to be completed by March 2018 will be executed by the existing SPV of Government of India and the Government of Tamil Nadu which is Chennai Metro Rail Ltd. having 50:50 equity of each.
Centre approves Chennai Metro Rail’s extension
“The project will be executed by the existing SPV (special purpose vehicle) of Government of India and the Government of Tamil Nadu having 50:50 equity each, i.e., Chennai Metro Rail Ltd,