The Tamil Nadu government has allocated Rs 550 crore for the Chennai metro rail project. The Rs 14,600-crore, 45-km long project is expected to commence operations by 2014-15.
Deputy chief minister MK Stalin on Wednesday flagged off the construction work from Koyambedu to Ashok Nagar.
The project is being implemented by Chennai Metro Rail Ltd, a special purpose vehicle. While 59 per cent of the cost would be funded by a concessional loan from the Japanese government, the Centre would contribute 15 per cent as equity and 5 per cent as debt. The remaining would be met by the state.
Under Phase-1, Corridor-I with a length of 23.1 km (14.3 km underground and 8.8 km elevated) will be built between Washermanpet and Airport via Anna Salai. Corridor-II, with a length of 22 km (9.7 km underground and 12.3 km elevated) will connect Chennai Central with St Thomas Mount via Koyambedu.
A five-member consortium led by Egis Rail SA of France has been appointed as general consultant to assist in design, supervision, quality control and safety of the project.
