AIIB to extend $356 mn loan for Chennai Metro Rail expansion

Phase-2 of the project will ensure seamless multimodal transport across Chennai, with integrated access to suburban rail, bus stations and the main airport

The Asian Infrastructure Investment Bank (AIIB) has approved a $356.67-million loan for the expansion of the Chennai metro rail system.

Phase-2 of the Chennai Metro Rail will span the area from the Lighthouse in the east to Poonamalee Bypass in the west. This will ensure seamless multimodal transport across Chennai, by providing integrated access to suburban rail, bus stations and the city’s main airport, the Beijing-based multilateral funding agency said in a statement.

AIIB has approved 28 projects amounting to $6.7 billion in India, with the energy and transport sectors having received the lion's share of the institution's financing.

This project is aligned