CHENNAI: The Japan International Cooperation Agency (JICA) has sanctioned a loan of approximately Rs 2,809 crore (49,847 million Japanese Yen) for Phase-2 of the Chennai Peripheral Ring Road Project.
The project is one of the priority ones under the ‘Comprehensive Integrated Master Plan for Chennai-Bengaluru Industrial Corridor (2015)’ based on agreement between the Government of Japan and the union government.
The five-phase 133km road for which land is being acquired will help address the demand for connectivity due to increasing road traffic in the Chennai Metropolitan Area. The project is expected to improve connectivity in and around Chennai by creating a radial-ring road network by linking Inner Ring Road, Chennai Bypass Road and Outer Ring Road to provide alternative route for vehicles. It will also provide direct access to Kamarajar Port and Kattupalli Port from industrial clusters located in suburban areas of Chennai Metropolitan Area to accelerate industrial and economic growth.
Loan pact signed between JICA and additional secretary
According to sources, the project will reduce transportation time by about 40 minutes between Chennai and Ennore Ports (through the phase 1 & 2 project). It will also enhance connectivity to southern part of the state through 26.3km Peripheral Ring Road and Intelligent Transportation Systems.
JICA signed the loan agreement for the first phase of the project in March 2018 and supported the construction of Section 1 (24.5km in total), which is the northernmost part of the Peripheral Ring Road project. Subsequently, in the second phase of the project, JICA will contribute to construction of Section 5, which is southernmost part of the Peripheral Ring Road, and introduction of Intelligent Transportation Systems from Sections 2 to 5. Official Development Assistance loan agreement was signed between Vikas Sheel, additional secretary, Department of Economic Affairs, Ministry of Finance, Saito Mitsunori, Chief Representative, JICA India.
Will reduce Chennai-Ennore travel time by 40 minutes
The road project will reduce transportation time by about 40 minutes between Chennai and Ennore Port. It will also enhance connectivity to southern parts of Tamil Nadu through 26.3km Peripheral Ring Road and implementation of Intelligent Transportation Systems, sources said