The Union Ministry of Urban Development has accorded ‘in-principle’ approval to the Government of Tamil Nadu for taking up the Chennai Monorail Project (CMP).
Phase-1.
Under the project, monorail services will be provided between Poonamalle and Kathipara with a link from Porur to Vadapalani with a total length of 20.68 km at an estimated
cost of ` 3,267 crore. As per the approval, the project would be implemented under ‘Design, Build, Finance, Operate and Transfer (DBFOT)’ model with entire funding from
the state government/state government agencies/PPP partner without any financial support from the Central government.
The conditions stipulated include: Tamil Nadu government would ensure price based measures to promote ridership as part of an integrated traffic rationalisation plan for the city
to ensure ridership; A suitable arrangement, independent of Special Purpose Vehicle (SPV) for periodic fare revision for other competing modes.
The other conditions are: setting up a unified metropolitan transport authority, duly backed by legislation, to facilitate co-ordinated planning and implementation of urban transport projects;
and the Tamil Nadu government and the Central government would set up a joint oversight mechanism.
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The Ministry of Urban Development has given ‘in-principle’ approval for the Chennai Monorail Project (CMP) Phase-1.
According to officials of the Ministry, Monorail services will be provided between Poonamalle and Kathipara with a link from Porur to Vadapalani covering 20.68 km. The link will cost an estimated Rs.3,267 crore.
"As per the approval accorded last week, the project will be implemented under design, build, finance, operate and transfer (DBFOT) model with entire funding from the State Government, its agencies and partners under public private partnership without any financial support from the Centre," said an official.
"The Government of Tamil Naidu and the Central Government will set up a joint oversight mechanism, the details of which would be incorporated in the Memorandum of Understanding to be signed between the two.”
Chennai Metrorail Project is the fourth urban rail transport project to be approved under PPP model after Mumbai Metro Line-1 and 2 projects and Hyderabad Metro.
