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 Jun 29, 2020


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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

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM).  The PPM provides “an opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIB’s failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.” Two or more project-affected people can file a complaint.  Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply.  You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html.

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html.