India: Chennai Peripheral Ring Road (Sections 2 and 3) (AIIB-000336)

Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Chennai Metropolitan Area
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Government of India
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 378.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 1,080.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Apr 22, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank documents, the proposed project aims to "improve economic connectivity and road transport efficiency in the Chennai Metropolitan Area through the construction of a peripheral road." The project will include construction of a 56.8 km six-lane dual carriageway and capacity development.

The project will be co-financed with OFID. OFID will follow AIIB’s ESP. The project has been screened and reviewed in accordance with the ESP and ESSs and is assigned as Category “A”.

AIIB’s Environmental and Social Policy (ESP), including the Environment and Social Standards (ESSs) and the Environmental and Social Exclusion List will apply to this project. ESS 1 (Environmental and Social Assessment and Management) and ESS 2 (Involuntary Resettlement) are also applicable to the project. 

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Co-financing:
The OPEC Fund for International Development (OFID): USD100 million
Government of Tamil Nadu: USD602 million


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

AIIB
Mehran Avini, Senior Private Sector Development Technical Specialist
mehran.avini@aiib.org

The OPEC Fund for International Development (OFID)
Shaimaa Al-Sheiby, Senior Officer
Private Sector Operations
A.Al-Sheiby@ofid.org

Borrower
Dr. Prasanna V. Salian
Deputy Secretary, Department of Economic Affairs, Ministry of Finance
Government of Republic of India
pv.salian@nic.in

Tamil Nadu Highways Department
Dr. A. Arun Thamburaj
Project Director,
Chennai Peripheral Ring Road Project
spnderpiu.cprr@tn.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.




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