India, Dec. 13 -- MANILA - The Asian Development Bank (ADB) has approved a $240 million loan-the second tranche of the Chennai Metro Rail Investment Project-to support the expansion of the metro rail network and provide cleaner, safer, and more reliable urban transport across the Chennai Metropolitan Area, India.
This tranche is part of ADB's $780 million multitranche financing facility for the project, approved in 2022, and follows the initial $350 million loan under the first tranche.
The new financing will support key sections of metro lines 3, 4, and 5, covering 20 kilometers of elevated and underground corridors and 18 new stations with universal access features and disaster-resilient infrastructure to keep passengers and services sa...