Beijing-based Asian Infrastructure Investment Bank (AIIB) Thursday approved a $356.67 million loan to the Indian government to support the expansion of the Chennai Metro.
The project, being implemented by the Chennai Metro Rail Limited, will include the construction of a new corridor from Lighthouse to Poonamalee Bypass as part of Phase 2 of metro construction.
AIIB, in a press release, said the line will “ensure seamless multimodal transport across Chennai by providing integrated access to suburban rail, bus stations and the city’s main airport.”
It also said the project would address “traffic bottlenecks and reduce greenhouse gas emissions by increasing public urban transport options.”
