UPMRC to get Rs 5,661 cr from EIB for Kanpur Metro Project

KANPUR (Metro Rail News): Uttar Pradesh Metro Rail Corporation Limited (UPMRC) to get approx. Rs 5,661 crore (Euro 650 million) for procurement of Rolling Stock and other development for Kanpur Metro Rail project. The European Investment Bank (EIB) approved the loan amount in its recent board meeting held on 15th July 2020. 

In an official statement, European Investment Bank (EIB) said that the project investments is the construction and operation of an urban metro rail transit system in Kanpur, One of the largest industrial city of Uttar Pradesh (UP). EIB will finance the procurement of rolling stock and the development of two metro rail corridors with elevated sections, totalling to 32.4 km with 31 stations (of which 19.4 km with 19 stations and 13 km with 12 underground stations).

The Kanpur Metro Rail enables safer Kanpur city and business-friendly. By facilitating access to amenities and jobs, this low carbon and climate-resilient urban infrastructure will enhance the conditions for private sector development, while reducing environmental impact.

The project contributes to the two main goals of the EIB External Mandate:

(i) climate change mitigation by promoting the modal shift from road to the rail while reducing greenhouse gas emissions.

(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 needs to address rising greenhouse gas emissions.

In India, metro projects do not fall within the range of the relevant Environmental Impact Assessment (EIA) legislation except 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 testing, if any, is to be determined during the 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 the appraisal. Compliance with relevant EIB Social Standards is to be reviewed.

The Bank will require the promoter to ensure that the implementation of the project will be done in accordance with the Bank’s Guide to Procurement.

Recently, the implementing agency UPMRC had awarded a contract worth Rs 2,051 crore to Bombardier Transportation India for the supply of 201 metro coaches and provide signalling solutions for the Kanpur and Agra Metro Rail projects.