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 Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..