Corridor 4 of Phase II of Chennai Metro Rail Project (NDB-corridor4ofphaseiiofc)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Chennai
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
  • New Development Bank (NDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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."
Voting Date
Dec 13, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
The Republic of India
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Infrastructure
  • 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)
$ 346.72 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.
Loan Amount (USD)
$ 346.72 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)
$ 2,026.57 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.
Currency conversion note:
Bank reported 167700
Converted using 2023-02-21 exchange rate.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ NDB website

Updated in EWS Feb 21, 2023

Disclosed by Bank Sep 18, 2021

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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 NDB, the proposed project is part of the Chennai Metro Rail Phase- II, which envisages constructing three metro rail corridors, namely Corridor 3, Corridor 4 and Corridor 5, for a total route length of about 119.6 km. Corridor 4 (the Project) will provide connectivity to the eastern and western parts of the city, whereas Corridor 3 and Corridor 5 will provide connectivity to the northern and southern parts of the city. The Project will construct a new metro line (Corridor 4) in Chennai with a total length of 26.8 km, including 30 metro stations. Upon completion, the Project will have a design capacity to carry daily 0.5 million passenger trips.

The Project will increase the adoption of rail-based transit systems as a mode of public transport, reduce greenhouse gas emissions, enhance travel comfort and reduce travel time.The Project will improve connectivity and mobility among important economic centers and residential areas of Chennai. It will increase productivity and improve the quality of life in CMA through developing an efficient, safe and environmentally friendly public transit system, as envisaged in the National Urban Transport Policy, Government of India.

ENVIRONMENTAL AND SOCIAL ASPECTS

The Project has been classified as Category A in accordance with the NDB Environment and Social Framework (ESF). The main environmental and social impacts include the acquisition of 8.3 hectares of private land, triggering physical displacement of approximately 690 households and economic displacement of approximately 300 households, removal of approximately 540 trees, disruption of traffic and public utilities, occupational safety risks, and general environmental pollution emissions and discharges during construction and operation.These impacts will be addressed and mitigated by adherence to country system requirements and management plans developed for the Project, including an Environmental and Social Impact Management Plan, to ensure compliance with country systems and NDB ESF.

IMPLEMENTATION

The Project will be completed by the end of 2026. GoTN will be the Executing agency and CMRL will be the Implementing agency.NDB loan will finance procurement of systems and equipment components for the Project, following the CMRL's procurement manual, in compliance with the country system procurement laws and regulations, as well as with the core principles of NDB Procurement Policy.

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

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.

NDB

Public Sector Department: Mukund Kumar

BORROWER

Ministry of Finance of Government of India: Prasanna V Salian, pv.salian@nic.in

IMPLEMENTING AGENCY

Chennai Metro Rail Limited: Rajesh Chaturvedi, rajesh.chaturvedi@c mrl.in

 

ACCESS TO INFORMATION

You can submit an information request for project information through a form at the bottom of the following webpage https://www.ndb.int/about-us/contact-us Alternatively, you can send an e-mail to info@ndb.int

ACCOUNTABILITY MECHANISM OF NEW DEVELOPMENT BANK

The New Development Bank (NDB) does not currently have an independent accountability mechanism to accept complaints related to NDB-financed projects. The Bank does have a whistleblower mechanism that receives complaints about misconduct related to corruption, fraudulent practices and instances of money laundering in projects financed by the NDB and/or against the NDB staff members. To learn more about the whistleblower mechanism and how to file a complaint, access this webpage at: https://www.ndb.int/about-us/whistleblowing

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