Announced four years back, Tamil Nadu’s ambitious Chennai Monorail project seems to be now finally on fast track with the Centre according ‘in principle’ approval for the first phase of the project connecting Poonamalle and Kathipara with a link from Porur to Vadapalani. The 20.68-km stretch will be constructed at an estimated cost of `3,267 crore.
As per the approval accorded last week by the Union Urban Development Ministry, the project would be implemented under ‘Design, Build, Finance, Operate and Transfer (DBFOT)’ model with entire funding from the State Government/State Government agencies/ PPP Partner without any financial support from the Centre.
Chennai Metrorail Project is the fourth urban rail transport project to be approved under PPP model after Mumbai Metro line-1 and 2 projects and Hyderabad Metro.
