Chennai Metro Rail

Chennai Metro Rail

New Delhi (PTI): Work on the much-awaited Chennai Metro Rail Project is expected to begin by October this year with the Japanese government giving its nod for concessional assistance to build the transport system.

The Tamil Nadu government will sign the agreement with the Japanese government which is providing Rs 852.69 crore for the prestigious project in September.

"The Japanese government has agreed to extend more than Rs 800 crore for providing a better transport system to the city. This is just the first instalment and we will be signing an agreement with them sometime next month," Syed Munir Hoda, Chairman, Chennai Metro Rail Corporation, told PTI.

The total project cost is estimated at Rs 11,124 crore, while Japan will provide Rs 8,646 crore to establish a 45-km long mass rapid transport system in the form of metro and elevated railways. The remaining cost will shared by both state government and the Centre.

"We are pursuing the project on fast-track and we intend to start work on it by this October," Chief Secretary L K Tripathi said.

"The project is in pre-Public Investment Board stage and once it is cleared by the board, then it will go for the Cabinet approval," he said.

"Once the agreement is signed between the state government and the Japanese side, we will start the work on the project," Hoda said.