AIIB Approves $500 million Loan for Delhi – Meerut RRTS Project

Per the updated website of the Asian Infrastructure Investment Bank (AIIB), the bank’s board of directors in October approved a USD 500 million (approx. Rs 3694 crore) loan to the National Capital Region Transport Corporation (NCRTC) for partially funding the civil & system procurement for the under construction 82.15 km Delhi – Meerut RRTS line.

Per a follower the decision was taken on October 29, and with this development, this Rs 30,274 crore ($4 billion) semi high-speed rail project is just a formal agreement away from being fully financed. Prior to this, the Asian Development Bank (ADB) approved a USD 1 billion loan in August and New Development Bank (NDB) approved a USD 500 million loan in September.

AIIB’s Timeline:

  • Date of Concept Decision: March 24, 2020
  • Date of Appraisal Decision: July 21, 2020
  • Date of Financing Approval: October 29, 2020
Screenshot from AIIB’s website

AIIB’s Project Description

The proposed Project involves the development and construction of an 82 km rail-based rapid transit system, with a design speed of 180 km per hour (km/h) and an average speed of 100 km/h. The Project will connect Sarai Kale Khan in Delhi to Modipuram in Meerut, Uttar Pradesh. The Project will be jointly cofinanced with the ADB under its Multi-tranche Financing Facility (MFF) comprising four tranches. The Project component to be jointly cofinanced by AIIB and ADB includes civil works for elevated and underground sections with stations, two depots, track work and traction. Other Project components to be financed by the Government of India, the Government of Uttar Pradesh, and the Government of Delhi (Governments) are detailed design consultants, a General Consultant, two elevated civil works packages for the first 17 km of the corridor from Delhi, and all land acquisitions required for the Project. Further, rolling stock is also proposed to be financed by the Governments.

Logo of AIIB (copyright AIIB) & line’s alignment – view Delhi – Meerut RRTS info & route map

A list of the project’s packages (civil & systems) and their status can be viewed here.

Prior to this, AIIB’ board approved Bangalore Metro Pink Line’s 335 million loan on December 8, 2017. The following rail projects are currently awaiting its approval:

For more updates, check out the NCR RRTS section of The Metro Rail Guy!

– TMRG

written by

Global traveler who prefers mass rapid transit

9 Responses to "AIIB Approves $500 million Loan for Delhi – Meerut RRTS Project"

  1. Abhishek Threja says:

    What about status of loan delhi alwar rrts

    Reply
  2. Kanishka says:

    Has the package-4 been awarded (STEC being the lowest bidder)? With NDB & AIIB as lenders, i think no choice left to GOI but to succumb to the mofo chinese…the idiots (@MoUD)must be waiting for a politically convenient time to award the contract to STEC (else the media will go berserk and hold GOI by the neck); OR something else cooking?..

    …one thing looks sure; that underground section (package-4) is delayed, over a mere 43 crores (difference of L1 & L2; STEC vs. L&T)..

    Reply
    • TMRG says:

      Naah, hasn’t been awarded yet. Neither have they cancelled it, which they should have going by the new tendering rules. Hope they take a decision soon because I don’t see things on the border improving anytime soon.

      Reply
      • Kanishka says:

        Let’s see if Hardeep S Puri and Durga S Mishra have the guts to show some spine and order for re-tendering…

        The window to take quick/swift decision is closed; the section is delayed for sure..

        Reply
  3. Vikram Sharma says:

    Afcons were lowest budder for Rrts meerut project, have they received Work Order

    Reply
  4. Hem says:

    All these RRTS lines are Broadgauge or standard gauage? There are conflicting news Items on google search and wikipedia. So asking for clarity.

    Reply

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