Release date: 19 March 2020
Promoter – Financial Intermediary
UTTAR PRADESH METRO RAIL CORPORATION LTDLocation
Description
The project concerns is the construction and operation of an urban metro rail transit system in Kanpur, the largest industrial city of Uttar Pradesh. EIB will finance the acquisition of rolling stock and the development of two metro rail corridors with elevated sections, totaling to 32.4 km with 31 stations (of which 19.4 km with 19 stations and 13 km with 12 underground stations).
Objectives
The new metro will contribute to make Kanpur safer and more business-friendly. By facilitating access to amenities and jobs, this low carbon and climate resilient urban infrastructure will improve the conditions for private sector development, while reducing environmental impact. The project contributes to the two main objectives of the EIB External Mandate: (i) climate change mitigation, by promoting modal shift from road to rail while reducing greenhouse gas emissions, and (ii) social and economic infrastructure development, by contributing to urban development. The project is in line with the EU Country Strategy Paper for India which highlights the infrastructure gap and need to address rising greenhouse gas emissions.
Sector(s)
- Transport - Transportation and storage
Proposed EIB finance (Approximate amount)
EUR 650 million
Total cost (Approximate amount)
EUR 1354 million
Environmental aspects
In India, metro projects do not fall within the scope of the relevant Environmental Impact Assessment (EIA) legislation unless the built up area is beyond a defined threshold, in which case the project is subject to screening by the State level Competent Authority. The status of screening, if any, is to be determined during appraisal. The project has in any case been subject to an environmental and social impact assessment. The further steps in assessing and managing environmental risks are to be reviewed during appraisal. Compliance with relevant EIB Social Standards is to be reviewed.
Procurement
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.
Status
Signed - 31/08/2020
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).