Monorail project cleared for Chennai
Project would be implemented under ‘Design, Build, Finance, Operate and Transfer (DBFOT)’ model
By : DC Correspondent
Update: 2014-11-21 05:45 GMT
New Delhi/ chennai: After Mumbai, Chennai will be the second metropolis in the country to boast of a Monorail with the Union urban development ministry on Thursday according ‘in-principle’ approval to the 21-km monorail projects that aims to link the suburbs with the city.The Chennai Monorail project envisages monorail services between Poonamalle and Kathipara Junction in Guindy with a link from Porur to Vadapalani with a total length of 20.68 km. at an estimated cost of Rs.3, 267 crore. The monorail was a pet project advocated by former Chief Minister J. Jayalalithaa.
As per the approval accorded, the project would be implemented under ‘Design, Build, Finance, Operate and Transfer (DBFOT)’ model with entire funding from the state government or PPP Partner without any financial support from the Centre.
The Union government has also stipulated a few conditions for the project that include the Tamil Nadu government ensuring price-based measures to promote ridership as part of an integrated traffic rationalisation plan for the city to ensure ridership.
The Union government has also asked the Tamil Nadu Government to have a suitable arrangement, independent of Special Purpose Vehicle (SPV) for periodic fare revision for other competing modes and to provide Multimodal integration, including suburban railways to provide network connectivity in the region to provide seamless travel.