AIIB Shows Interest in Funding Madurai and Coimbatore Metro Projects

05 Jul 2024 CW Team

The Asian Infrastructure Investment Bank (AIIB) has expressed interest in financing the metro rail projects in Madurai and Coimbatore, both currently under development by Chennai Metro Rail Limited (CMRL). An AIIB team inspected the proposed metro routes in Madurai and is scheduled to survey the Coimbatore routes.

According to the recent budget announcement, Detailed Project Reports (DPRs) for both metro projects have been prepared and submitted to the Union government for approval. The Coimbatore metro project, covering Avinashi and Sathyamangalam Road, is estimated to cost Rs 107.4 billion, while the Madurai metro project, connecting Thirumangalam and Othakkadai, is projected at Rs 113/68 billion.

M.A. Siddique, Managing Director of CMRL, confirmed AIIB?s interest. ?AIIB has come for a periodic review mission for the Phase II project in Chennai, which it is already funding. The AIIB team expressed interest in financing the Madurai and Coimbatore projects and is conducting preliminary visits with the CMRL team. The Madurai inspection was completed yesterday, and the Coimbatore visit is today,? he said.

Siddique also noted that other multilateral banks are showing similar interest in these projects. However, the decision on the financial institution will be made by the Ministry of Finance, Government of India. The Government of Tamil Nadu has already sent proposals to the Government of India in March this year, requesting international financial institution funding.

The interest from AIIB and other multilateral banks highlights the significance of these metro projects in improving urban transportation infrastructure in Tamil Nadu.

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..