In a huge development, the Chennai Metro has drastically cut down the estimate of its Phase II project by nearly ₹7,000 crore. From an initial estimate of ₹69,180 crore for 118.9 km, the project cost has been brought down to ₹62,000 crore, highly placed sources told The Hindu. The Union Ministry of Housing and Urban Affairs (MoHUA) has directed Chennai Metro Rail Limited (CMRL) to reduce the project cost, as it deemed it to be very high, the sources said. Over the last year, CMRL officials held several rounds of discussions with MoHUA officials to find ways to bring down the project cost. Chennai Metro has already begun floating tenders to first start work on 52 km of the 118.9 km, and the tunnelling contracts will be awarded in a few months.

Source: The Hindu February 16, 2020 19:07 UTC