CHENNAI : Governor Banwarilal Purohit on Wednesday told the Assembly that the government was looking at a “comprehensive restructuring’ of the transport corporations in the State with support from German bilateral financing agency KfW.“This would involve the replacement of the ageing fleet with fuel-efficient BS-VI buses and procurement of environment-friendly electric buses in metro cities like Chennai, Coimbatore and Madurai.

The Japan International Co-operation Agency has now approved the funding of Rs 20,196 crore for the priority stretches totalling 52 kilometre from Madhavaram to Sholinganallur and Madhavaram to Chennai Mofussil Bus Terminus (CMBT),” the Governor said. The loan agreement for the first tranche of approximately Rs 4,770 crore was signed recently and the work would commence shortly. 

The Phase-I of the Metro Rail project has already commenced operations, and is likely to be fully commissioned this month, the Governor said. “Government is taking all efforts to make GIM-2019 a resounding success. To promote aerospace and defence production, this government will release the Tamil Nadu Aerospace and Defence Industrial policy shortly.” 

He pointed out that the establishment of industrial hubs for defence products in Chennai - Vellore - Salem - Hosur -Coimbatore-Trichy corridor would definitely improve the prospects of Tamil Nadu as a major defence manufacturing force.”

The Governor also urged the Centre to expedite the implementation of the defence industrial production corridor project. He said Tamil Nadu being a major automobile hub, thrust would be given for the promotion of new-generation electric vehicles with appropriate incentives.