Rail Analysis India Dec Edition 2017 Digital Magazine | Page 82

Article | 81
82 | Article
ASIAN IFRASTRUCTURE INVESTMENT BANK
Invests in BANGALORE METRO PROJECT
Image Credit: pbs.twimg.com
T
he Asian Infrastructure Investment Bank’s (AIIB)
Board of Directors has approved a US$335 million
loan for a 100-percent electric metro project that
will reduce traffic and pollution and increase
employment and mobility in India. The investment in the
Bangalore Metro Rail Project—Reach 6 (R6) is AIIB’s first
metro project and its first joint financing partnership with the
European Investment Bank (EIB). EIB is the project’s lead
financier with Euro 500 million in funding.
“We’re investing in
this metro project
because
of
its
potential to greatly
improve the mobility
of commuters and
further
economic
growth
through
better connectivity,”
said
AIIB
Vice
President and Chief
Investment Officer
D.J. Pandian. “The
project’s impact on
the reduction of fuel
AIIB Vice President and
consumption
and
Chief Investment Officer-
traffic
congestion
will
Mr D.J. Pandian.
also help reduce local
air pollution and noise and make Bangalore a more livable
city. We look forward to continuing to review metro projects
in India, and across Asia, that will support connectivity and
introduce greener methods of transportation.”
By expanding the city’s metro system, the project will
provide high-capacity north-south connectivity through the
center of Bangalore—India’s third most populated city with
a population of 9.6 million. Primary beneficiaries will be the
commuters who travel along the corridor, with residents and
commercial establishments along the line as secondary
beneficiaries. Travel times for some journeys impacted by
the lack of a metro system are expected to drop from two
hours today to 15 minutes when the R6 line is completed.
R6 is a key part of Phase II of the Bangalore Metro Rail
Project and a key component of the future rail link to
Bangalore Airport. Operations will be entirely electric,
further reducing greenhouse gas emissions and helping
mitigate climate change effects. The Bangalore Metro Rail
Corporation Limited is the entity implementing the project.
In May 2016, AIIB and EIB signed a memorandum
of understanding establishing a framework of
The Future of Rail Technology Transfers
to Indian Companies :
Manufacturing for Railways Sector
The Railway Sector in India provides a huge opportunity for manufacturing in India .
Special Insight by Rail Analysis Team
A
cooperation to conduct regular dialogues and
explore joint infrastructure project financing. The
Bangalore Metro Rail Project—R6 is the first project
resulting from that framework
lthough Indian Companies are adopting more
innovative approaches to meet the rising demand
of the Rail Sector in India , Foreign Companies
have a big role to play in the development of this
sector bringing in technologies , experience and
human capital.
Different Railway Projects Under Development (
Projects ) :
•
•
•
•
•
Mass Transit Projects : Metro , Light Rail ETC
Freight Corridors : DFCC , Logistic Parks
Semi - High Speed Rail Project
High Speed Rail Projects : MAHSR
Modernization of Traditional Systems
•
•
•
Up Gradation of Existing Railway Tracks
Expansion of Network
Railway Station Modernization
Technologies / Expertise Required ( Opportunities
The Above Projects Bring for Companies ):
1. PPP Projects : Stations , New Metro Projects , Rail
Connectivity to Ports ( Participative Model Policy)
2. Obsolescence Management : Ageing Fleet of Railways
, Replacement of Key Components , Metro Rail - Delhi
3. Last Mile Connectivity : Seamless Travel for Passengers
providing Connectivity to Homes , Offices etc
4. Security & Safety : Data , Passengers , Crossings, &
Systems.