This will include the entire required loan of 33,593 crore, besides the equity and subordinate debt of 7,425 crore. The balance 35% or ₹22,000 crore of the estimated cost will be financed by the state government.
The nomenclature of the project has now been changed to 'central sector' project from 'state sector' project as per the request of the Tamil Nadu government, a release from the finance ministry said on Saturday.
The loans taken from multilateral and bilateral develop ment agencies will be treated as loans to the union government and will be provided directly to the Chennai Metro Rail Limited (CMRL) from the union budget, the release said.
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