Japan lends Rs 2,470 crore for city peripheral road project

The agreement was signed by C.S. Mohapatra, Additional Secretary in the Department of Economic Affairs and Katsuo Matsumoto, Chief Representative of JICA in New Delhi.

Published: 19th January 2019 05:33 AM  |   Last Updated: 19th January 2019 05:46 AM   |  A+A-

Japan flag

Image of an Indo-Japanese summit for representational purpose (File Photo | AFP)

By Express News Service

NEW DELHI: In a big boost to city infrastructure, the Japan International Cooperation Agency (JICA) will offer a loan assistance of Rs 2,470 crore for the construction of Chennai Peripheral Ring Road between the Ennore Port and the East Coast Road.

“The project aims to meet increasing traffic demands in Chennai metropolitan area by constructing the Peripheral Ring Road (Section 1) and installing Intelligent Transport Systems, thereby contributing to the mitigation of traffic congestion and promoting regional development,” said a finance ministry statement.

The agreement was signed by C.S. Mohapatra, Additional Secretary in the Department of Economic Affairs and Katsuo Matsumoto, Chief Representative of JICA in New Delhi.

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