According
to officials of the Ministry, Monorail services will be provided
between Poonamalle and Kathipara with a link from Porur to Vadapalani
covering 20.68 km. The link will cost an estimated Rs.3,267 crore
"As
per the approval accorded last week, the project will be implemented
under design, build, finance, operate and transfer (DBFOT) model with
entire funding from the State Government, its agencies and partners
under public private partnership without any financial support from the
Centre," said an official
"The Government of Tamil
Naidu and the Central Government will set up a joint oversight
mechanism, the details of which would be incorporated in the Memorandum
of Understanding to be signed between the two.”
Chennai
Metrorail Project is the fourth urban rail transport project to be
approved under PPP model after Mumbai Metro Line-1 and 2 projects and
Hyderabad Metro.
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