Asian Infra Bank likely to finance more Metro Rail projects in Tamil Nadu

CHENNAI: After investing in CMRL’s phase II project, the Asian Infrastructure Investment Bank (AIIB) is planning on financing Madurai and Coimbatore Metro Rail projects as well.

A team of officials will be holding inspections at the cities this week.

The preliminary visit in Madurai will be held on Wednesday and in Coimbatore on Thursday, a press note from CMRL stated.

T Archunan director-projects, CMRL, Wenyu Gu, senior transportation specialist, AIIB, Rekha Prakash CGM-planning of CMRL, and other officials will be visiting the sites. Meanwhile, other multilateral banks are also showing similar interest in investing in the projects in TN.

“However, it’s the Ministry of Finance that will, in due course, decide on the financial institution. The State government has already sent proposals to the Union government in March this year, requesting for international funding,” the press note stated.