The Ministry of Urban Development
has accorded ‘In-principle’ approval to the Government of Tamil Nadu for taking
up the Chennai Monorail Project (CMP) Phase-1. Under the project, Monorail
services will be provided between Poonamalle and Kathipara with a link from
Porur to Vadapalani with a total length of 20.68 km. with an estimated cost of
Rs.3,267 cr. As per the approval accorded, the project would be implemented
under ‘Design, Build, Finance, Operate and Transfer (DBFOT)’ model with entire
funding from the State Government/State Government agencies/ PPP Partner
without any financial support from the Government of India. The conditions
stipulated include:
·
The
Tamil Nadu Government would ensure price based measures to promote ridership as
part of an integrated traffic rationalization plan for the city to ensure
ridership;
·
A
suitable arrangement, independent of Special Purpose Vehicle (SPV) for periodic
fare revision for other competing modes;
·
To
provide Multimodal integration, including suburban railways to provide network
connectivity in the region to provide seamless travel;
·
Setting
up a Unified Metropolitan Transport Authority, duly backed by legislation, to
facilitate coordinated planning and implementation of urban transport projects;
and
·
The
Government of Tamil Nadu and the central government would set up a joint
oversight mechanism, the details of which would be incorporated in the
Memorandum of Understanding to be signed between the two.
Chennai Metrorail Project is
the fourth urban rail transport project to be approved under PPP model after
Mumbai Metro Line-1 and 2 projects and Hyderabad Metro. 
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