AIIB to Survey Madurai and Coimbatore for Metro Projects.

The Asian Infrastructure Investment Bank (AIIB) has expressed interest in financing the metro rail projects in Madurai and Coimbatore, which are currently being developed by Chennai Metro Rail Limited (CMRL). An AIIB team inspected the proposed metro routes in Madurai on Wednesday and is scheduled to survey Coimbatore on Thursday.

According to the recent budget announcement, Detailed Project Reports (DPRs) have been prepared for both metro rail projects. The Coimbatore project, covering Avinashi and Sathyamangalam Road, is estimated to cost ₹10,740 crore. The Madurai project, connecting Thirumangalam and Othakkadai, is projected at ₹11,368 crore. Both DPRs have been submitted to the Union government for approval.

M.A. Siddique, Managing Director of CMRL, confirmed AIIB’s interest to The Times of India. “AIIB has come for a periodic review mission for the Phase II project in Chennai, which it is already funding. The AIIB team expressed interest in financing the Madurai and Coimbatore projects and is conducting preliminary visits with the CMRL team. The Madurai inspection was completed yesterday, and the Coimbatore visit is today,” he said.

Siddique also mentioned that other multilateral banks have shown similar interest in the projects. “However, it is the Ministry of Finance, Government of India, that will decide on the financial institution. The Government of Tamil Nadu has already sent proposals to the Government of India in March this year, requesting international financial institution funding.”

ET