| Project Detail |
The objective of the Project is, through financing the construction of three metro lines in Mumbai with the total length aggregate about 58 km, to address the current transport challenges and to enhance the city’s public transportation capacity. The Project includes construction of (i) Line 2A from Dahisar East to DN Nagar; (ii) Line 2B from DN Nagar to Mandale; (iii) Line 7 from Andheri East to Dahisar East. The Project will supplement the existing suburban railway network, which is currently operating beyond its maximum capacity. The Project will also provide rail-based mass transit facility to areas that are not currently connected by the existing transport network.
The proposed NDB loan through the modality of Project Loan will be used by the Government of India for on-lending to Government of Maharashtra for financing the equipment and system components of the Project.
- Environmental and Social Aspects
The Project contributes to (i) reduced travel time for commuters; (ii) reduced vehicle operating costs; (iii) a positive shift in travel pattern from road to rail thereby resulting in decongestion of roads and reduction of emissions; (iv) improved transport safety; (v) enhanced comfort of travel; (vi) improved connectivity for the residences and visitors in Mumbai; (vii) sustainable development of the city through better connectivity and improved access to markets, workplaces, education, health centers and etc.
The Project is classified as Category “A” in accordance with the NDB Environmental and Social Framework. Negative environmental and social impacts mainly pertain to land acquisition and resettlement, noise and vibration from elevated metro lines, temporary disruption of transportation during construction, dust and emissions. Mitigation measures are in place to address the negative impacts. These impacts will also be mitigated by adherence to requirements of E&S country system. NDB will monitor the Project closely and engage with the Project Implementation Agency during implementation.
- Financials
The total cost of the Project is estimated to be USD 2,500 million. The NDB will finance USD 260 million, accounting for 10% of the total cost. The remaining balance will be financed by loans of USD 926 million from other banks and counterpart fund of USD 1,314 million from Mumbai Metropolitan Region Development Authority.
FINANCIER AMOUNT ($ MILLION)
New Development Bank 260
Other Banks 926
Mumbai Metropolitan Region Development Authority 1,314
- Implementation
The Project is estimated to be completed by December 2022. Mumbai Metropolitan Region Development Authority will be the Project Implementation Agency. Contractors for the Project will be selected through a competitive and transparent bidding process. |
