India: Delhi-Meerut Regional Rapid Transit System (AIIB-000352)

Countries
  • India
Where the impacts of the investment may be experienced.
Specific Location
Modipuram, Sarai Kale Khan
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
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)
$ 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.
Project Cost (USD)
$ 3,949.70 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 bank documents, "The proposed Project will connect Modipuram in Meerut to Sarai Kale Khan in Delhi through constructing an 82-km rail-based rapid transit system, with a design speed of 180 km per hour (km/ h) and an average speed of 100 km/h.

The Project components to be jointly cofinanced with Asian Development Bank (ADB) and Japan Fund for Poverty Reduction (JFPR) are:

Component A: Civil works (underground tunneling and stations, elevated viaduct and stations, and two depots)

Component B: Signaling and Telecommunication, Electrical works, and Traction

Other Project components to be financed by the Government of India, Government of Uttar Pradesh, and Government of Delhi (Governments) are detailed design consultants, General Consultant, and two elevated civil works packages. Further, rolling stock is also proposed to be financed by the Governments."

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

Co-financing:
ADB US$ 1,549 million
apan Fund for Poverty Reduction US$ 3 million
Governments US$ 1,897.7 million

 

Contact Information

AIIB
Soon Sik Lee
Project Team Leader and Principal Investment Operations Specialist (Transport)
Asian Infrastructure Investment Bank
soonsik.lee@aiib.org

ADB
Sharad Saxena
Mission Leader and Principal Transport Specialist
Asian Development Bank
ssaxena@adb.org

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

Implementing Agency
Rajiv Dutt
Senior Advisor
National Capital Region Transport Corporation (NCRTC)


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.