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.

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..