The Asian Infrastructure Investment Bank (AIIB) is showing strong interest in financing metro rail projects in Madurai and Coimbatore, marking a crucial development in Tamil Nadu's urban mobility efforts. AIIB recently inspected the proposed 11.368 km Madurai metro route and plans to assess a similar 10.74 km route in Coimbatore soon. With Chennai Metro Rail Limited (CMRL) having prepared Detailed Project Reports (DPRs), the Coimbatore project is estimated at INR 10,740 crore, while Madurai's is INR 11,368 crore - totaling INR 22,108 crore. Pending Ministry of Finance approval, AIIB's potential investment could transform public transport, alleviate congestion, and spur economic growth in these cities.
The Asian Infrastructure Investment Bank (AIIB) has expressed keen interest in financing the much-awaited metro rail projects in two Tamil Nadu cities, Madurai and Coimbatore. This development comes as a major boost for the state government's efforts to improve urban mobility and infrastructure.
A team from AIIB recently visited Madurai to inspect the proposed 11.368 kilometre metro route connecting Thirumangalam and Othakkadai. They are scheduled to conduct a similar survey in Coimbatore soon for the proposed 10.74 kilometre route covering Avinashi and Sathyamangalam Road. This signifies a positive step forward for the projects, which have been in the planning stages for some time now.
Detailed Project Reports (DPRs) for both metro lines have already been prepared by the Chennai Metro Rail Limited (CMRL), the agency overseeing the project. The estimated cost of the Coimbatore project is INR 10,740 crore, and the Madurai project is expected to cost INR 11,368 crore. In total, both projects would require a combined investment of INR 22,108 crore.
While AIIB's interest is a promising sign, the final decision on funding will be made by the Ministry of Finance, Government of India. The Tamil Nadu government has already submitted proposals seeking international financial assistance for these projects in March this year.
This potential investment by AIIB could significantly improve public transport in Madurai and Coimbatore. Metro rail systems are known for reducing traffic congestion, offering faster travel times, and providing a more comfortable commuting experience for millions of residents. Furthermore, successful completion of these projects could attract further investment and contribute to the overall economic growth of these cities.
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