Promising that Metro Rail will traverse the northern parts of the city in three years, Chief Minister Jayalalithaa on Saturday said it was only during her regime that a major portion of Chennai Metro Rail’s elevated and underground construction works were completed.
After laying the foundation stone for Metro Rail Phase I extension connecting Washermanpet to Wimco Nagar, Ms. Jayalalithaa appealed to the Centre to approve Phase II of the project at the earliest, for which a proposal would be sent shortly.
Ms. Jayalalithaa said the Memorandum of Understanding (MoU) of the Chennai Metro Rail needs modifications as it works against the State’s interest. “During the DMK’s regime in February 2011, an MoU was signed between the State, the Centre and Chennai Metro Rail Limited (CMRL). It has several clauses which are against the interest of the State. Hence, I urge Prime Minister Narendra Modi to amend them,” she said.
‘Will lessen burden’Officials said modifying certain clauses would lessen the burden of the State government financially. For instance, clause 12.1 of the MoU requires the State to bear the land, relief and rehabilitation cost and also, the land acquisition cost as a subordinate debt. In Clause 11, the State has to bear any cost escalation in project and fluctuation related to foreign exchange after the approved project completion period.
Published - July 24, 2016 01:31 am IST