Centre has released ₹10,354.15 crore for CMRL’s phase II work, says Union Minister
The Hindu
The Centre has allocated ₹10,354.15 crore for CMRL's phase II project, with nearly 49% of construction completed.
Nearly 49% of Chennai Metro Rail Limited’s (CMRL) phase II project’s construction work has been completed and ₹10,354.15 crore has been released so far by the Centre for this project, Union Minister of State for Housing and Urban Affairs Tokhan Sahu said.
In the Rajya Sabha, DMK MP Rajathi alias Salma raised queries on the release of ₹9,500 crore, advanced by the Tamil Nadu government towards the Centre’s share for the project. CMRL’s 118.9-km phase II project was initially taken up and approved by the State government as a State-sector project. Following this, they requested Centre to give their approval which came in October 2024.
“Consequent upon the sanction of CMRL’s Phase II project by the Central government, Government of Tamil Nadu has made a book adjustment request to the Central government for already availed loan of ₹9,500 crore, taken for Chennai Metro Rail phase II from State government to CMRL, which is 50:50 Special Purpose Vehicle (SPV) of the Government of India and the Tamil Nadu government for implementing CMRL phase II project,” the Minister said.
At the pre-Union Budget consultation meeting held in New Delhi last month, Finance Minister Thangam Thennarasu said the advance payment of ₹9,500 crore that the State government made towards this project impacted the State’s debt-GSDP ratio and the permissible borrowing limit.
Mr. Sahu, also stated: “Central government releases funds for the project based on the requirement posed by CMRL. The Central government as per request of CMRL has already released funds to the tune of ₹10,354.15 crore since its sanction in October 2024. As on date, there is no pending demand for release of funds to CMRL.”
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