The Japan International Cooperation Agency (JICA) will extend a loan of Rs 20,196 crore for building over 52 km stretch under Phase II of Chennai Metro Project, said Tamil Nadu government.

In a statement, the government said the estimated cost of this length (35.67 km Madhavaram to Sholinganallur and 16.34 km Madhavaram to Chennai Mofussil Bus Terminus) is Rs 40,941 crore.

The loan assistance from JICA will be Rs 20,196 crore.

The loan agreement for providing the first tranche under the Official Development Assistance (ODA) loan of 75,519 Million Japanese Yen (approximately Rs 4,770 crore) between Government of India and JICA, the statement said.-IANS