+
State Bank of India grants Chennai Metro Rs 4.5bn for Phase-2 expansion
ECONOMY & POLICY

State Bank of India grants Chennai Metro Rs 4.5bn for Phase-2 expansion

Chennai Metro Rail has secured funding of Rs 4.5 billion from the State Bank of India for the acquisition of automatic fare collection gates and 30 train cars.

The award letter to the State Bank of India was issued. The rupee term loan will allocate Rs 1.5 billion for the implementation of phase-2 automatic fare collection gates along the Koyambedu to Sipcot corridor, encompassing corridor-5 and 3.

The remaining Rs 3 billion will be utilized for the procurement of 30 train cars for phase-2.

This marks the first instance of Chennai Metro Rail collaborating with domestic commercial banks for financial support in the implementation of phase-2 projects, as stated in the release.

Chennai Metro Rail has secured funding of Rs 4.5 billion from the State Bank of India for the acquisition of automatic fare collection gates and 30 train cars. The award letter to the State Bank of India was issued. The rupee term loan will allocate Rs 1.5 billion for the implementation of phase-2 automatic fare collection gates along the Koyambedu to Sipcot corridor, encompassing corridor-5 and 3. The remaining Rs 3 billion will be utilized for the procurement of 30 train cars for phase-2. This marks the first instance of Chennai Metro Rail collaborating with domestic commercial banks for financial support in the implementation of phase-2 projects, as stated in the release.

Next Story
Infrastructure Urban

HAVER & BOECKER Marks a Century of Fascinating Engineering

HAVER & BOECKER is celebrating 100 years of the Machinery Division. It kicked off the year-long festivities in May by hosting customers and industry partners from around the globe for an anniversary event at its headquarters in Oelde, Germany. The occasion also commemorated milestones for two subsidiaries: 50 years of IBAU HAMBURG and 25 years of AML Anlagentechnik, highlighting HAVER & BOECKER’S enduring legacy and technological leadership.The anniversary celebrations will all feature a short reflection on the past before jumping into a showcase of continuous innovation and a clear ..

Next Story
Equipment

MYCRANE Launches Auction Tool to Make Crane Rental Faster

MYCRANE, the first global platform for online crane rental, has launched a powerful new MYCRANE Auction feature, designed to improve transparency, accelerate rentals and deliver greater value for both customers and suppliers. MYCRANE Auction supports multiple auction types—including reverse auctions, forward auctions, and sprint formats—giving customers full flexibility in how they engage with suppliers. At launch, the reverse auction format is expected to be the most commonly used, particularly for high-value, urgent, or competitive rental jobs. Accessible via the main rental pl..

Next Story
Infrastructure Urban

EVMS Raises Concern Over Illegal E-Rickshaw Operations

The Electric Vehicle Manufacturers' Society (EVMS), representing more than 200 organised and MSME EV manufacturers across India, held a press conference at the Press Club of India, highlighting two major challenges facing the country’s electric mobility sector. These include the widespread operation of illegal e-rickshaws and the sharp increase in low-quality imports. Shri Rajiv Tulli, General Secretary of EVMS and an industry veteran with over 25 years of experience, led the session. He made a strong case for urgent policy action, regulatory clarity, and coordinated steps from all stakehold..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?