Urgent.News

What's breaking now, across thousands of outlets.

Business

Coimbatore Metro Rail: Wait continues for the green signal

How did Coimbatore embark on the ambitious proposal for a metro rail? What was the CMRL proposal for Coimbatore? What is the way forward for the proposal?

Coimbatore Metro Rail: Wait continues for the green signal

Coimbatore Metro Rail, envisioned for the second-largest city in Tamil Nadu, has been caught in a delay due to repeated rejections of detailed project reports submitted by the Chennai Metro Rail Limited (CMRL) to the Union government in recent years. Despite initial plans introduced in 2010 and later revived in 2017, the CMRL's proposals for a 39 km elevated metro rail system were rejected on the grounds of technical feasibility and insufficient anticipated ridership.

The Tamil Nadu government's latest rejection cites concerns about time-saving benefits and inadequate bus connectivity, though critics argue the decision is politically motivated. Despite these setbacks, there is ongoing public demand and debate about the viability of a metro rail system connecting Coimbatore to nearby cities.

Written by urgent.news from The Hindu's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Read the original at thehindu.com →

More in Business

Overdraft Delinquencies Rise Among Young and Elderly Investors

In the first half of this year, delinquent balances on overdraft accounts at major commercial banks in South Korea grew at a pace nearly four times faster than outstanding loan balances, data showed.

  • Delinquency rate for overdraft accounts surged to 0.22% in June 2023.
  • Stock market correction triggered by borrowers' investment losses and interest costs.

Samsung SDI Acquires GM Stake, Securing U.S. Battery Plant

An electric vehicle battery plant with annual capacity of 27GWh now under construction in New Carlisle, Indiana, will be converted to a sole-operation system under Samsung SDI.

  • Samsung SDI acquires remaining 49.99% stake in Synergy Cells.
  • Joint venture with GM to build $3.5B New Carlisle, Indiana battery plant.
  • Shifts focus to energy storage systems amid EV market slowdown.

KOTRA, KIGAM Join Forces for Critical Minerals

The Korea Trade-Investment Promotion Agency (hereinafter KOTRA) and the Korea Institute of Geoscience and Mineral Resources (hereinafter KIGAM) have initiated cooperation to secure critical minerals…

  • KOTRA and KIGAM form partnership to secure critical minerals
  • Collaboration focuses on information sharing, data exchange, joint research
  • Agreement emphasizes early-response capabilities and diversified supply chains

More from Tuesday 11 August →