India: Nangal Chaudhary Integrated Multi-Modal Logistics Hub (IMLH) Project (AIIB-000284)

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.
Borrower
Government of India
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 Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 70.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 142.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS May 13, 2020


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Project Description

According to the bank's website, "The project will build the trunk infrastructure of the IMLH including rail connectivity and sidings, road connectivity, water supply and sewage treatment and external power supply and distribution." The project document states its objective as "To provide a value-added Integrated Multi-Modal Logistics Hub (IMLH) that facilitates economic activities between the National Capital Region (NCR)/Northern States and the Mumbai port (JN Port) by utilizing the cost efficient and high-speed Western Dedicated Freight Corridor (WDFC)."

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
Private Actors
  • DMIC Haryana Multi-modal Logistics Hub Project Limited -- Implementing Company
Contact Information

AIIB
Woo-Hyun Kwon, Senior Investment Operation Specialist-Transport
Woohyun.kwon@aiib.org

Borrower
Prasana V. SalianDeputy Secretary
Department of Economic Affairs, Ministry of Finance
Republic of Indiapv.salian@nic.in

Implementation Agency
DMIC Haryana Multi-modal Logistics Hub Project Limited (DHMHPL)


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.