Nation Politics 28 Sep 2019 Chennai: Government ...

Chennai: Government inks pact with German bank

DECCAN CHRONICLE. | D SEKAR
Published Sep 28, 2019, 3:18 am IST
Updated Sep 28, 2019, 3:18 am IST
Memorandum signed to purchase more eco-friendly buses.
The agreement between the State Transport department and KfW, is the first phase of a major project financial assistance by the German bank to the tune of Rs.5,890 crore to buy 12,000 new eco-friendly BS-VI grade world-class buses, besides 2,000 electric buses, an official release said. The agreement was signed in the presence of Chief Minister, Edappadi K Palaniswami at the Secretariat here.
 The agreement between the State Transport department and KfW, is the first phase of a major project financial assistance by the German bank to the tune of Rs.5,890 crore to buy 12,000 new eco-friendly BS-VI grade world-class buses, besides 2,000 electric buses, an official release said. The agreement was signed in the presence of Chief Minister, Edappadi K Palaniswami at the Secretariat here.

CHENNAI: The Tamil Nadu government on Friday signed a major 'project agreement' with the Frankfurt-based German development bank, KfW, to avail financial aid to the tune of Rs.1,580 crore (203 million Euros) for purchasing 2,213 buses besides 500 electric buses for the state transport undertakings.

The agreement between the State Transport department and KfW, is the first phase of a major project financial assistance by the German bank to the tune of Rs.5,890 crore to buy 12,000 new eco-friendly BS-VI grade world-class buses, besides 2,000 electric buses, an official release said. The agreement was signed in the presence of Chief Minister Edappadi K Palaniswami at the Secretariat here.

 

The objective of the project is to minimize air pollution from public transportation in the state by plying most advanced eco-friendly buses and electric buses in phases under the MoU signed between the London-based 'C-40' - Cities Climate Leadership Group' to focus on issues of climate change and reduce carbon emissions into the atmosphere in the backdrop of threat of global warming. In pursuance of that MoU this project of introducing new buses is being implemented, the release said.

While the German side was represented by the vice-consul in the German Embassy in New Delhi, Ms. Karin Stoll and Ms. Christiane Schmidt, deputy director, KfW, New Delhi and Ms. Swathi Khanna, urban development and mobility, senior sector specialist, the Tamil Nadu government was represented by the State Transport minister, M.R. Vijayabhaskar, Chief Secretary, K. Shanmugam, Transport secretary, Dr J Radhakrishnan and special secretary (finance), Ms. Pooja Kulkarni.  

 

The Chief Minister, Mr. Palaniswami also inaugurated via video-conference from theSecretariat various new projects today.

 They included a special centre for children's treatment at the Government headquarters hospital in Krishnagiri at a cost of Rs. 18 crore, and 324 multi-storied apartments for 'B', 'C' and 'D' group employees of the state government under 'own your house scheme', shopping complexes and developed plots in various districts, all with a total outlay of Rs 198.39 crore. 

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