The Hindu : Rs. 18,000-crore plan to develop infrastructure

Online edition of India's National Newspaper
Sunday, Mar 23, 2003

Southern States

Southern States - Tamil Nadu-Chennai

Rs. 18,000-crore plan to develop infrastructure

By Our Staff Reporter

CHENNAI MARCH 22. The Finance Minister, C. Ponnaiyan, has announced an infrastructure investment plan for the Chennai metropolitan area to the tune of Rs. 18,000 crores over a period of next 10 years in his budget presented in the Assembly on Friday. An official working group prepared the plan. In the next five years, an investment of Rs. 10,000 crores would be required.

The TIDCO had entered into a Memorandum of Understanding with the Infrastructure Development Finance Corporation to develop the plan. The `investment plan' will be converted into an `action plan', the implementation of which would be overseen by the `Chennai Metropolitan Infrastructure Development Committee', headed by the Chief Minister.

The financial statement said inundation during heavy rains, poor road maintenance, water shortage and solid waste disposal as city's major problems.

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