Chennai Peripheral Ring Road Project Phase 2 Secures 2,809 Crore JICA Loan

The Japan International Cooperation Agency (JICA) has signed a loan agreement worth approximately Rs 2,809 crore for the construction of the second phase of the Chennai Peripheral Ring Road Project. The loan amount is equivalent to 49,847 million Japanese Yen.

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Project Overview

The Chennai Peripheral Ring Road is a priority project under the Comprehensive Integrated Master Plan for Chennai-Bengaluru Industrial Corridor 2015, an agreement between the governments of Japan and India. The project aims to address the rapidly increasing traffic demand in the Chennai metropolitan area, alleviate congestion, and reduce transportation time between Chennai and Ennore ports by approximately 40 minutes. It also seeks to enhance connectivity to the southern part of the state by constructing a 26.3 km peripheral ring road and introducing Intelligent Transportation Systems (ITS).

JICA's Involvement

JICA previously signed a loan agreement for the first phase of the project in March 2018, supporting the construction of Section 1 (24.5 km), the northernmost part of the peripheral ring road. In this second phase, JICA will contribute to the construction of Section 5, the southernmost part of the ring road, and the introduction of ITS from Sections 2 to 5.

Loan Agreement Signing

The Official Development Assistance (ODA) loan agreement was signed between Vikas Sheel, Additional Secretary, Department of Economic Affairs, Ministry of Finance, and Saito Mitsunori, Chief Representative, JICA India. The executing agency for the project is the Tamil Nadu Highways and Minor Ports Department.

The Chennai Peripheral Ring Road Project is a significant infrastructure initiative that will improve traffic flow, reduce travel time, and enhance connectivity in the Chennai metropolitan area. JICA's continued support for the project demonstrates its commitment to India's economic development and infrastructure modernization.