India: Haryana Orbital Rail Corridor Project (AIIB-000370)

Countries
  • India
Where the impacts of the investment may be experienced.
Specific Location
Delhi National Capital Region (NCR)
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.
Voting Date
Oct 1, 2020
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
Prasanna V. Salian, Deputy Secretary, Department of Economic Affairs, Ministry of Finance
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)
$ 400.00 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)
$ 691.73 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 19, 2020


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Project Description

According to the bank's documents, the project's objective is "to provide a new freight and passenger railway line improving regional connectivity and reducing congestion in Delhi National Capital Region (NCR)."

The project entials a 144km, 15-station electrified dual-track railway line with an annual capacity of 60 million tons of freight and 7 million passengers.

The Project components to be financed by AIIB are:

Component 1 - Civil work.

Component 2 - Project Management Consultant.

Component 3 - Railway systems including electrification, signaling and telecommunication.

Component 4 - Track works.

Investment Description
  • Asian Infrastructure Investment Bank (AIIB)

Co-financing:
Haryana Orbit Rail Corporation Limited(HORCL) US$ 291.73 million

Private Actors
  • Haryana Rail Infrastructure Development Corporation Ltd -- Implementing Company
Contact Information

AIIB
Wenyu Gu, Senior Investment Operations Specialist
wenyu.gu@aiib.org

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

Implementing Agency
Ravi Kumar Gupta, Director, P&P
Haryana Rail Infrastructure Development Corporation Ltd

directorpp.hridc@gmail.com

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.