CHENNAI: Prime Minister Narendra Modi will be inaugurating the Chennai Metro stretch- the 9-km line from Washermanpet to Wimco Nagar on Sunday. On February 10, 2019, Modi had inaugurated the final 10-km stretch between AG-DMS and Washermanpet under Phase I. This time he will be inaugurating the Phase I extension after Union Home Minister Amit Shah laid the foundation for second phase last year.
Former Chief Minister J Jayalalithaa inaugurated the 10-km stretch from Koyambedu to Alandur in 2015 and the next stretch from Little Mount to airport in September 2016. I t was after 2016, the bonhomie with the State deepened. The first underground Metro corridor connecting Koyambedu to Nehru Park was jointly inaugurated by Chief minister Edappadi K Palaniswami and then Union Minister Venkaiah Naidu.
When foundation for phase II was laid, Chief Minister Edappadi K Palaniswami had urged the Union government to reconsider the shareholding under second phase of Chennai Metro Rail project- with a sharing pattern of 50:50 as in phase I. However, official sources said that the Centre is yet to take any decision after a letter from the Chief Minister was submitted to Shah.
The Government of India has suggested to provide only 10 per cent cost as grant instead of providing 15 per cent as share capital. I f the Centre’s shareholding is increased it will boost the project, said official sources. The phase two project is being split into three corridors at an estimated cost of Rs 61,843 crore. It is funded by the State, Centre and various foreign banks- Japan International Cooperation Agency, Asian Development Band, Asian Infrastructure Investment Bank (AII B) and New Development Bank.
“Since the contribution from the Centre as grant will affect the present share holding pattern and as because such grants are also considered revenue expenditure, we have been requesting Government of India to consider the support as share capital, which is taken as capital expenditure with a sharing pattern of 50:50 between Centre and State,” the CM said in his letter. Top Chennai Metro Rail officials could not be contacted on the issue.
Earlier, the Union secretary for the Ministry of Housing and Urban Affairs highlighted the Phase I extension project but did not go into details over the request from the State and allocation of funds. He said the 9-km Phase I extension linking Washermenpet to Wimco Nagar will boost footfalls by around 3 to 3.5 lakh. He said the Centre has provided Rs 18,000 crore for the first phase of Chennai Metro.
I nitially, Chennai Metro Rail project was expected to cost Rs 14,600 crore and the State and Centre was providing 15 per cent each. Chennai Metro Rail said that the state was providing Rs 2,190 crore besides Rs 844 crore as subordinate debit for land acquisition purpose.
Similarly, the Centre was providing Rs 2,190 crore besides Rs 730 crore as subordinate debit for taxes. Japan International Cooperation Agency was providing a loan of Rs 8,646 crore on an interest of 1.40 per annum. The cost of the entire projet under phase I is Rs 19,058 crore. Centre has provided the state with Rs 3, 770 crore under Phase I extension.
Free ride between 2 pm and 11 pm
Chennai: With the opening of the new line in phase-I Extension, Chennai Metro Rail will be providing free ride to all passengers on both Blue Line and Green Line inauguration, a release said. Free ride will be available from 2 pm till 11 pm on Sunday