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LPG PIPELINE PROJECT (Loan 1591-IND)

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LPG PIPELINE PROJECT (Loan 1591-IND) ASIAN DEVELOPMENT BANK PCR:IND 28033 PROJECT COMPLETION REPORT ON THE LPG PIPELINE PROJECT (Loan 1591-IND) IN INDIA September 2003 CURRENCY EQUIVALENTS Currency Unit – Indian rupee/s (Re/Rs) At Appraisal At Project Completion (22 September 1997) (1 March 2001) Re1.00 = $0.028 $0.022 $1.00 = Rs36.14 Rs45.61 ABBREVIATIONS ADB – Asian Development Bank APPS – application software EIL – Engineers India Limited EIRR – economic internal rate of return FIRR – financial internal rate of return GAIL – Gas Authority of India Limited HAZOP – hazardous operation HDD – horizontal directional drilling IDC – interest during construction LA – Loan Agreement LNG – liquefied natural gas LPG – liquefied petroleum gas RPL – Reliance Petroleum Limited SCADA – supervisory control and data acquisition WEIGHTS AND MEASURES bm3 (billion cubic meter) – 1,000,000,000 m3 bars (pressure unit) – 1.019 kg/cm2 cm (centimeter) – 10 millimeters hp (horsepower) – 746 watts kg (kilogram) – 1,000 grams km (kilometer) – 1,000 meters MMCM (million metric cubic meters) – unit of gas volume MMTPA (million metric tons per annum) – unit of mass of LPG MMSCMD (million standard cubic meters per day) – unit of gas volume per day t (ton [metric]) – 1,000 kilograms NOTES (i) The fiscal year (FY) of the Government and Gas Authority of India Limited ends on 31 March. FY before a calendar year denotes the year in which the fiscal year ends. For example, FY2003 begins on 1 April 2002 and ends on 31 March 2003. (ii) In this report, “$” refers to US dollars. CONTENTS Page BASIC DATA iii MAP vii I. PROJECT DESCRIPTION 1 II. EVALUATION OF DESIGN AND IMPLEMENTATION 2 A. Relevance of Design and Formulation 2 B. Project Outputs 3 C. Project Costs 4 D. Disbursements 4 E. Project Schedule 5 F. Implementation Arrangements 6 G. Conditions and Covenants 7 H. Related Technical Assistance 7 I. Consultant Recruitment and Procurement 7 J. Performance of Consultants, Contractors, and Suppliers 8 K. Performance of the Borrower and Executing Agency 8 L. Performance of the Asian Development Bank 9 III. EVALUATION OF PERFORMANCE 9 A. Relevance 9 B. Efficacy in Achievement of Purpose 10 C. Efficiency in Achievement of Outputs and Purpose 10 D. Preliminary Assessment of Sustainability 10 E. Environmental, Sociocultural, and Other Impacts 11 IV. OVERALL ASSESSMENT AND RECOMMENDATIONS 12 A. Overall Assessment 12 B. Lessons Learned 13 C. Recommendations 13 APPENDIXES 1. Chronology of Main Events in Project Implementation 15 2. Cost Breakdown by Project Components 17 3. Project Costs and Summary of Contracts 18 4. Annual Average Exchange Rates 19 5. Project Financing Plan 20 6. Projected and Actual Disbursements of Loan Proceeds 21 7. Implementation Schedule 22 8. Organization Chart and Project Implementation Structure 23 9. Status of Compliance with Major Loan Covenants 24 10. Summary of Environmental Impact Assessment 29 11. Major Assumptions Related to Economic and Financial Evaluation 31 12. Economic and Financial Evaluation 33 13. Training 35 14. Policy Issues Related to Pricing in the Gas Sector 36 ii CONTENTS Page SUPPLEMENTARY APPENDIXES (available upon request) A. Balance Sheets 39 B. Income Statements 40 C. Sources and Uses of Funds 41 BASIC DATA A. Loan Identification 1. Country India 2. Loan Number 1591-IND 3. Loan Title LPG Pipeline Project 4. Borrower Gas Authority of India Limited 5. Executing Agency Gas Authority of India Limited 6. Amount of Loan (net after cancellation) $98.19 million First Cancellation $13.50 million 31 May 1999 Second Cancellation $15.50 million 12 October 1999 Third Cancellation $11.50 million 21 September 2000 Fourth Cancellation $11.31 million 1 March 2002 7. Project Completion Report Number PCR:IND 764 B. Loan Data 1. Appraisal - Date Started 22 September 1997 - Date Completed 3 October 1997 2. Loan Negotiations - Date Started 12 November 1997 - Date Completed 14 November 1997 3. Date of Board Approval 16 December 1997 4. Date of Loan Agreement 11 December 1998 5. Date of Loan Effectiveness - In Loan Agreement 11 March 1999 - Actual 4 May 1999 - Number of Extensions 1 6. Closing Date - In Loan Agreement 30 November 2001 - Actual 1 March 2002 7. Terms of Loan - Interest Rate 6 months variable ordinary capital resources (OCR) rate - Maturity 15 years - Grace Period 4 years 8. Terms of Relending - Interest Rate Not less than OCR rate - Maturity (number of years) 15 years - Grace Period (number of years) 4 years iv 9. Disbursements a. Dates Initial Disbursement Final Disbursement Time Interval 27 May 1999 1 March 2002 33 months Effective Date Original Closing Date Time Interval 4 May 1999 3 November 2001 31 months b. Amount ($ million) Last Net Undis- Original Revised Amount bursed Category Allocation Allocationa Disbursed Balance 1. Civil Works and 53.00 48.60 43.23 5.37 Construction 2. Goods and Equipment 56.00 46.16 44.83 1.33 3. Interest and 23.00 8.89 8.89 0.00 Commitment Charges 4. Trainingb 0.00 1.96 1.24 0.72 5. Unallocated 18.00 3.89 0.00 3.89 Total 150.00 109.50 98.19 11.31 a Last revised allocation completed on 31 August 2001. b Training component was included later, at the request of the Gas Authority of India Limited, to use the loan savings. Source: Controller’s Department, Asian Development Bank, Manila. C. Project Data 1. Project Cost ($ million) Cost Appraisal Estimate Actual Foreign Exchange Cost 208.80 129.00 Local Currency Cost 155.60 119.98 Total 364.40 248.98 Source: Asian Development Bank estimates. 2. Financing Plan ($ million) Appraisal Estimate Actual Item Foreign Local Total Foreign Local Total Implementation Costs ADB 127.00 0.00 127.00 93.39 0.00 93.39 International Banks 44.80 0.00 44.80 0.00 0.00 0.00 Local Banks 0.00 8.80 8.80 30.81 38.43 69.24 GAIL Internal Resources 0.00 144.25 144.25 0.00 76.60 76.60 IDC Costs ADB 23.00 0.00 23.00 4.80 0.00 4.80 International Banks 14.00 0.00 14.00 0.00 0.00 0.00 Local Banks 0.00 0.00 0.00 0.00 0.00 0.00 GAIL Internal Resources 0.00 2.55 2.55 0.00 4.95 4.95 Total 208.80 155.60 364.40 129.00 119.98 248.98 ADB = Asian Development Bank, GAIL = Gas Authority of India Limited, IDC = interest during construction. Source: Asian Development Bank estimates. v 3. Cost Breakdown by Project Components ($ million) Appraisal Estimate Actual Item Foreign Local Total Foreign Local Total A. Base Cost 1. Line Pipe 48.60 0.00 48.60 30.70 19.25 49.95 2. Pipe Coating 24.30 0.00 24.30 10.50 2.01 12.51 3. Line Fittings 0.00 4.80 4.80 0.00 1.24 1.24 4. Valves 3.80 0.00 3.80 4.70 3.32 8.02 5. Pumps 0.00 0.00 0.00 8.20 1.13 9.33 6. Right of Use 0.00 3.80 3.80 0.00 1.70 1.70 Compensation 7. Pipe Laying 47.40 5.30 52.70 41.10 15.76 56.86 8. River Crossings (HDD) 0.00 1.20 1.20 0.00 0.31 0.31 9. Booster, Dispatch, and 3.50 12.80 3.50 0.00 11.67 11.67 Tap-Off Stations 10. SCADA and 12.00 15.70 27.70 12.00 11.51 23.51 Telecommunications systems 11. Cathodic Protection 3.50 0.00 3.50 4.20 0.41 4.61 System 12. Power Supply 0.00 6.30 6.30 12.80 1.67 14.47 13. Construction Camps 0.00 5.50 5.50 0.00 2.01 2.01 and/or Townships 14. Commissioning 0.00 0.10 0.10 0.00 0.00 0.00 15. Surveys 0.00 1.90 1.90 0.00 1.16 1.16 16. Engineering 0.00 12.70 12.70 0.00 9.80 9.80 17. Consulting and Training 2.00 0.00 2.00 0.00 0.68 0.68 18. Project Management 0.00 6.30 6.30 0.00 13.54 13.54 19. Ocean Freight 7.10 0.00 7.10 0.00 0.00 1.72 20. Customs Duty 0.00 29.60 29.60 0.00 15.61 15.61 21. Port and Domestic 0.00 7.80 7.80 0.00 0.00 0.00 Transport 22. Excise Duty and Central 0.00 5.60 5.60 0.00 0.00 0.00 Sales Tax 23. Insurance 0.00 1.30 1.30 0.00 0.20 0.20 24. Others 0.00 0.00 0.00 0.00 0.32 0.32 Subtotal (A) 152.20 120.70 272.90 124.20 115.03 239.23 B. Contingencies 1. Physical Contingencies 15.22 12.07 27.29 0.00 0.00 0.00 2. Price Contingencies 9.38 20.28 29.67 0.00 0.00 0.00 Subtotal (B) 24.60 32.35 56.96 0.00 0.00 0.00 C. Interest During 32.00 2.55 34.54 4.80 4.95 9.75 Construction Subtotal (C) 32.00 2.55 34.54 4.80 4.95 9.75 Total 208.80 155.60 364.40 129.00 119.98 248.98 HDD = horizontal directional drilling, SCADA = supervisory control and data acquisition. Source: Asian Development Bank estimates. vi 4. Project Schedule Appraisal Estimate Actual Item Start End Start End Surveys Jan 1996 Sep 1998 Jan 1996 Jul 1998 Right of Way and Land Acquisition Apr 1997 Oct 1997 Apr 1997 May 2000 Engineering Feasibility Study Jan 1996 Jan 1997 Jan 1996 Sep 1996 Design Freeze Feb 1997 Oct 1997 Feb 1997 Dec 1997 Process Design Nov 1997 Mar 1998 Nov 1997 Jan 1998 Detail Engineering Apr 1998 Sep 1998 Mar 1998 Apr 2000 HAZOP Apr 1998 Jan 2001 Feb 1998 Mar 2001 Procurement Line Pipe Feb 1998 Apr 2000 Dec 1997 Dec 1999 Station Valves Mar 1998 Dec 1998 Oct 1998 Oct 2000 Pumps and Drivers Sep 1998 Jun 1999 Oct 1998 Jul 2000 Appurtenances Apr 1998 Mar 2000 Apr 1998 Sep 2000 Optical Fiber Cable Apr 1998 Mar 2000 Mar 1998 Jul 2000 Construction Pipe Coating Mar 1998 Sep 2000 Jan 1998 Jun 2000 Pipe Laying Jul 1998 Mar 2001 Jun 1998 Feb 2001 Terminal and Pump Stations Dec 1998 Feb 2001 Dec 1998 Jan 2001 Telecommunications Mar 1999 Feb 2001 Mar 1999 Mar 2001 SCADA Feb 1999 Jan 01 Feb 1999 Nov 2003a Commissioning Feb 2001 Apr 2001 Oct 2000 Jan 2001 HAZOP = hazardous operations, SCADA = supervisory control and data acquisition a Expected date of completion.
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