AIIB approves $356.67 million loan for Chennai Metro Phase II

The Asian Infrastructure Investment Bank (AIIB) has approved a loan of $356.67 million to support the expansion of Chennai Metro Rail (CMRL). The project involves the construction of a new metro corridor as part of CMRL’s Phase-II development.

The corridor will span from Lighthouse in the east to Poonamalee Bypass in the west to ensure multimodal transport across Chennai, providing integrated access to suburban rail, bus stations and the main airport.