- The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval to the proposal for Chennai Metro Rail Phase-I Project from Washermanpet to Wimconagar.
- The project will be executed by the existing SPV of Government of India and the Government of Tamil Nadu having 50:50 equity of each i.e. Chennai Metro Rail Ltd.
- The project is scheduled to be completed by March 2018.
- This extension will provide improved access to public transport for dense population comprising predominantly industrial workers to move towards the central business district of the city for work.
- In the total project cost, Government of India’s (Gol) share will be Rs. 713 crore and Government of Tamilnadu’s (GoTN) share will be Rs. 916 crore.
- The share of GoTN included cost of Land and R&R of Rs. 203 crore.
- The estimated ridership will be 1.6 lakh passengers per day in first year of operation.