| The Rs 9,757-crore metro rail project, planned to ease traffic congestion and improve public transport system in Chennai, will be implemented by Chennai Metro Rail Limited, an SPV to be set up jointly by the central and state governments. |
| The state Cabinet, which met here on Wednesday, gave its approval for implementing the project based on the detailed project report submitted by Delhi Metro Rail Corporation Limited (DMRC), an official statement said. |
| While the state government will seek financial assistance and loan from the Centre to implement the project, it has also been decided to seek funding assistance from the Japan Bank for International Cooperation. |
| DMRC's report for the Chennai metro project envisages creation of two corridors "� one from Washermanpet in North Chennai to Meenambakkam airport in the southern part via Egmore, Teynampet, and another one from Fort St George in Central Chennai to St Thomas Mount in southern Chennai via Anna Nagar, Vadapalani, Ashok Nagar and Alandur. The project will comprise 20 km of underground railway line and the rest would be elevated line. |
| The Cabinet also decided to form a committee led by chief secretary and members comprising industry secretary, finance secretary and revenue secretary to frame a set of guidelines to be followed while acquiring land for industrial parks and special economic zones. |
| These guidelines will be debated by a sub-committee of the Cabinet, to be appointed by the chief minister, and will be placed for approval along with their recommendations, the statement added. |
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