A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity.
The Chennai International Airport is the fourth-busiest in India in terms of passenger traffic behind New Delhi, Mumbai and Bengaluru. It handled about 15.2 million passengers in 2013–2014; in terms of international passengers, Chennai is the third-busiest airport behind Indira Gandhi International Airport, Delhi, and Chatrapati Shivaji International Airport, Mumbai. Chennai handles 400 flights a day, again placing it fourth among Indian airports. The city is connected to major hubs across Asia, Europe, Middle East and Africa through more than 30 national and international carriers.
The existing airport is undergoing modernisation and expansion with an addition of 1,069.99 acres (433.01 ha), while a new greenfield airport is to be constructed at an estimated cost of ₹ 2,000 crore in Sriperumbudur on 4,200 acres (17 km2) of land. The new airport is said to be likely to handle cargo spillover traffic from the existing one.
Chennai hosts the headquarters of the Southern Railway. The city has four main railway terminals. Chennai Central, Chennai Egmore, Chennai Beach and Tambaram. Chennai Central station, the city’s largest, provides nationwide access, whereas Chennai Egmore provides access to destinations primarily within Tamil Nadu; however, it also handles a few inter–state trains. A fifth terminal has been proposed to decongest Chennai Central. The Chennai suburban railway network, one of the oldest in the country, facilitates transportation within the city. It consists of four broad-gauge sectors terminating at two locations in the city, namely Chennai Central and Chennai Beach. While three sectors are operated on-grade, the fourth sector is primarily an elevated corridor, linking Chennai Beach to Velachery and is connected with the rest of the rail network.
Main article: Chennai Metro
Chennai Metro is a rapid-transit system serving the city and was partially commenced on 29 June 2015. To improve the city’s public transportation system and prepare the city for the future commuting needs, the Chennai Metro was planned and approved by the state cabinet during 2007 for which construction began on 2009. Phase I of the Chennai Metro network consists of the Blue Line and the Green Line covering a length of 45.1 kilometres (28.0 mi) consisting of 40 stations with Alandur and Chennai Central serving as interchanges. 55% of the corridors in Phase I are underground and the rest are elevated. The first stretch of Phase I, covering seven stations from Koyambedu to Alandur over a distance of 10 kilometres (6.2 mi), began operation on 29 June 2015. As of March 2019, the entire Phase 1 stretching from Chennai Central to Alandur on the Green line and Washermanpet to Chennai International Airport on Blue line are commercially operational, bringing the total operational network over 45 km. With this, the entirety of Phase I is operational. In December 2016, it was announced by Chennai Metro Rail Limited (CMRL) that Phase-2 of Chennai Metro is set to be for a length of 104 km consisting of 104 stations which was subject to approval from the State and Central governments. The Phase 2 was subsequently approved in late 2018, with certain provisos, and soil testing for the various stations are in full swing with construction set to begin in late 2019/ early 2020. As of April 2019 ridership has risen considerably to around 100,000 daily commuters, post the inaugural of the entire Phase I. Phase I-A, which is an extension of the Blue line from Washermanpet to Thiruvottiyur is expected to be inaugurated by June 2020.
Chennai is connected by the Golden Quadrilateral system of National Highways. It is connected to other Indian cities by four major National Highways (NH) that originate in the city. They are NH 4 to Mumbai (via Bangalore and Pune), NH 5 to Kolkata (linked via NH 6) (via Visakhapatnam and Bhubaneswar), NH 45 to Theni (via Villupuram, Tiruchirapalli and Dindigul) and NH 205 to Madanapalle (via Tirupati). Chennai is connected to other parts of the state and the Union Territory of Puducherry by state highways.
The government has constructed grade separators and flyovers at major intersections, and built Inner Ring Road and Outer Ring Road. The Gemini flyover, built in 1973, crosses over the arterial road, and eases the traffic movements towards Anna Salai and towards the Kathipara Flyover. As of 2011, according to the Transport Department, there were 25.8 lakh two–wheelers and 5.6 lakh four–wheelers in the city, and the Metropolitan Transport Corporation (MTC) bus fleet were 3,421, equaling 0.1% of all vehicles in the city.
When opened, the Chennai Mofussil Bus Terminus (CMBT) was the largest bus station in Asia. It is the main intercity bus station of Chennai, administered by seven government-owned transport corporations, which operate intercity and interstate bus services. There are many private bus companies. The MTC provides an exclusive intracity bus service, consisting of 3,421 buses on 724 routes, which provides transportation to 55.2 lakh passengers daily. The Tamil Nadu State Transport Corporation operates Volvo air-conditioned services from Chennai to nearby Pondicherry, Vellore, Hosur and Trichy.
Chennai outer ring road is 62.3 km long connecting NH 45 (GST Road) at Perungalathur, NH 4 (GWT Road) at Nazarathpet, NH 205 (CTH Road) at Nemilicherry(Thiruninravur), NH 5 (GNT Road) at Nallur and TPP road at Minjur under the process by Chennai Metropolitan Area.
The city is served by two major ports, Chennai Port, one of the largest artificial ports in India, and Ennore Port. Chennai Port is the largest in the Bay of Bengal, with an annual cargo tonnage of 6.146 crore (2010–2011), and the second-largest container-hub in India, with an annual container volume of 15.23 lakh TEUs (2010–2011). The port handles transportation of automobiles, motorcycles and general industrial cargo. The Ennore Port with an annual cargo tonnage of 1.101 crore (2010–2011), handles coal, ore and other bulk and rock mineral products. Royapuram fishing harbour is used by fishing boats and Kattupalli Shipyard near Ennore Port was inaugurated in January 2013.
In a joint venture (JV), each of the participants is responsible for profits, losses, and costs associated with it. However, the venture is its own entity, separate from the participants’ other business interests.