EPS hands over request to PM for Phase II funding sanction
CHIEF Minister Edappadi K Palaniswami on Sunday personally requested Prime Minister Narendra Modi to sanction Central funding for the second phase of the Chennai Metro Rail Project. The chief minister personally handed over a letter in this regard to the prime minister on the sidelines of a government function held at Tirupur. The chief minister’s request follows his earlier letter to the prime minister on January 21 and the proposal sent by the State government on January 11. Highly placed sources in the State government told Express that the Central government is expected to grant its approval very soon and an MoU will be signed on the matter in coming days. The second phase of the Metro Rail covers a length of about 118.9 km. Three corridors covered under the project are: Madhavaram to Siruseri, Light house to Poonamallee and Shollinganallur to Madhavaram. Out of the total project cost, the State and Centre would bear 20 percent, each. The remaining 60 percent of the funds would be obtained in the form of loans from international lending agencies. The chief minister’s letter had highlighted that the Centre is yet to accord its approval to contribute 20% of the funds. “Out of the total project cost of `69,180 crore, the land cost and state taxes amounting to `13,723 crore, is being met by the State government and the balance cost of `55,457 crore has to be funded by the Centre (20 per cent), Government of Tamil Nadu (20 per cent) and the funding agencies (60 per cent), respectively. Hence, the Central funding may be to the order of `11,100 crore spread over six years,” he said in the letter.