The Tamil Nadu government has unveiled revised plans to transform the historic Broadway bus terminus into a state-of-the-art Multi-Modal Facility Complex (MMFC). Chief Minister MK Stalin has given his approval for the ambitious project, which will feature a 10-story building housing a modern bus terminus, extensive parking facilities, and a shopping mall. The total cost of the project is estimated at âč823 crore.
The MMFC will include a bus terminus designed to handle 1,100 services, parking spaces for nearly 500 cars and 800 two-wheelers, and a variety of commercial spaces. A key component of the project is the integration of the Kuralagam building in Esplanade, which is owned by the Tamil Nadu Khadi and Village Industries Board.
Chennai Metro Rail Limited (CMRL) is acting as the consultant for the development of this complex. To ensure seamless management and operations, a new entity called Chennai Metro Asset Management Limited (CMAML) will be established. CMAML will be responsible for the implementation, operation, and maintenance of the MMFC.
The multi-purpose complex will include several amenities such as charging stations for electric buses, connectivity to the Chennai Metro, and a skywalk linking the complex to the Fort suburban railway station, enhancing the accessibility and convenience of the facility.
Funding for the âč823 crore project will be sourced from multiple avenues: âč200.84 crore will come from the state government’s Viability Gap Fund, âč115.03 crore as a soft loan from the Chennai Metropolitan Development Authority (CMDA), and âč506.83 crore as a term loan from the Tamil Nadu Urban Finance and Infrastructure Development Corporation (TUFIDCO).
The MMFC is poised to significantly enhance Chennai’s public transportation infrastructure, providing a modern, integrated hub for commuters and shoppers alike.