India: Mumbai Metro Line 4 Project (AIIB-000029)

Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 1, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Mumbai Metropolitan Region Development Authority (MMRDA)
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Nov 8, 2017


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Project Description
According to AIIB documents, the Project will finance North-South connectivity through a modern metro system between Mumbai and Thane district. The Project will run from Wadala through Ghatkopar, Mulund and Thane to Kasarvadavali of approximately 32 km. The Project consists of three components: (1) Civil Works: The component consists of the following subcomponents: (a) constructing a 32-km elevated metro line with a standardized viaduct (b) constructing 32 elevated metro stations along the metro line, of which 4 stations will be interconnected with other metro lines and the monorail (c) constructing 2 depots (one main depot for heavy maintenance and one stabling depot for minor maintenance) (2) Systems: The component consists of installing the following subcomponents: (a) signaling (b) telecommunication (c) traction and power supply (25 KV AC) (d) other systems related to the metro operation. (3) Rolling Stock: A total of 216 modern coaches with air conditioning and service-proven equipment with high reliability will be procured. The important criteria for selection of rolling stock includes passenger safety features, energy efficiency, optimized scheduled speed, low life cycle cost, etc.
Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
The estimated AIIB investment is $500 USD million.
Contact Information
Asian Infrastructure Investment Bank (AIIB): Soon-Sik Lee Project Team Leader/Senior Investment Operations Specialist Tel: +86 10 8358 0078 E-Mail: soonsik.lee@aiib.org Borrower/Implementation Agency: P. R. K. Murthy Director (Projects) Metro Project Implementation Unit, MMRDA Tel: +91 22 2659 0001 E-Mail: dpmetro@mailmmrda.maharashtra.gov.in ACCOUNTABILITY MECHANISM OF AIIB In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.