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    Reference: 20220640
    Release date: 18 March 2024

    Promoter – Financial Intermediary

    MAHARASHTRA METRO RAIL CORPORATION LTD

    Location

    Description

    The project concerns the second phase of Nagpur Metro Rail project that will connect the satellite towns of Nagpur city in the state of Maharashtra in India. It will serve as an extension to the ongoing first phase, with four extensions (North, South, East and West) totalling 44km and 32 stations.

    Objectives

    The project will contribute to two main objectives: (i) climate change mitigation, by promoting modal shift from road to rail and thereby a reduction of GHG emissions; and (ii) the development of social and economic infrastructure by making a key contribution to urban development, thereby improving the business environment for private sector development and facilitating access to amenities and jobs. 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. It supports two main objectives of 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.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 240 million

    Total cost (Approximate amount)

    EUR 760 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 promoter has to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement

    Status

    Under appraisal - 3/10/2022

    Milestone
    Under appraisal

    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).

    Related tags

    India Transport