Release date: 19 May 2017
Promoter – Financial Intermediary
BANGALORE METRO RAIL CORPORATION LTD
Construction of a 23km metro line and purchase of a fleet of about 96 metro cars in Bangalore, Karnataka, in southern India
The proposed operation will be extended under the Own Risk Facilities (ORF), Climate Action and Environmental Facility (CAEF) for the 2014-2016 period. The project will contribute to the two main objectives of the EIB's External Mandate: (i) climate change mitigation, by promoting modal shift from road to rail and thereby a reduction of greenhouse gas (GHG) emissions; and (ii) the development of social and economic infrastructure by making a key contribution to urban development. The project is consistent with the EU Country Strategy Paper for India which highlights the infrastructure gap and need to address rising GHG emissions. The project is consistent with the National Urban Transport Policy 2006 and Bangalore Revised City Masterplan to 2031.
Proposed EIB finance (Approximate amount)
EUR 500 million
Total cost (Approximate amount)
EUR 1634 million
If situated in the EU, the project would fall under Annex II of the Environmental Impact Assessment (EIA) Directive and would therefore be subject to screening by the competent authority to determine whether a full EIA procedure should be undertaken. The federal competent authority has screened the project out in accordance with domestic legislation. The project has been subject to an initial environmental assessment and the further steps in assessing and managing environmental risks will be reviewed during appraisal. The project will require the acquisition of about 50ha of land and will entail permanent involuntary resettlement of some households/businesses as well as generate some temporary road traffic disruption. Compliance with relevant EIB social standards will be reviewed.
The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.
Signed - 12/10/2017
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).