India: Chennai Metro Rail Phase 2 Project - Corridor 4 (AIIB-000301)

  • 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
Bank Risk Rating
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.
Government of India
The holder of the loan, grant, or other investment.
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 356.65 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)
$ 2,174.53 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 Jun 29, 2020

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Project Description

According to the bank's website, the proposed project aims to "provide high capacity and efficient east-west connectivity through the center of Chennai by expanding the city's metro system."

The project components are:

Component A: Construction of 16 km of elevated viaduct

Component B: Construction of 18 elevated stations

Component C: Construction of 7 underground stations

Component D: Implementation support and technical assistance

Other components, including the underground section, depot, system and rolling stock for the project will be financed by parallel co-financiers and the Government of Tamil Nadu (Co-financiers' Components)."

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

Government of Tamil Nadu US$ 652.36 million
Parallel Co-financiers US$ 1,165.52 million

Private Actors
Contact Information

Soon-Sik Lee
Principal Investment Operations Specialist (Transport)

Prasanna V. Salian
Deputy Secretary, Department of Economic Affairs
Ministry of Finance, Republic of India

Implementation Agency
Pankaj Kumar Bansal
Managing Director, Chennai Metro Rail Limited


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:

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: