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Taiyuan–Zhongwei Railway Project

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Taiyuan–Zhongwei Railway Project Completion Report Project Number: 36433-013 Loan Number: 2274 June 2014 People’s Republic of China: Taiyuan–Zhongwei Railway Project This document is being disclosed to the public in accordance with ADB’s Public Communications Policy 2011. CURRENCY EQUIVALENTS Currency Unit – yuan (CNY) At Appraisal At Project Completion (6 February 2006) (20 December 2012) CNY1.00 = $0.1240 $0.1602 $1.00 = CNY8.0616 CNY 6.2414 ABBREVIATIONS ADB – Asian Development Bank CO2 – carbon dioxide EIA – environmental impact assessment EIRR – economic internal rate of return EMP – environmental management plan FIRR – financial internal rate of return FCTIC – Foreign Capital and Technical Import Center ICB – international competitive bidding MOR – Ministry of Railways NHAR – Ningxia Hui Autonomous Region O&M – operation and maintenance PRC – People’s Republic of China TA – technical assistance WACC – weighted average cost of capital TZR – Taiyuan–Zhongwei Railway TZYRC – Taiyuan-Zhongwei-Yinchuan Railway Company WEIGHTS AND MEASURES km – kilometer p-km – passenger-kilometer ton-km – ton-kilometer km/h – kilometer per hour m2 – square meter m3 – cubic meter mu – a Chinese unit of measurement (1 mu = 666.67 m2) NOTES (i) In this report, "$" refers to US dollars, unless otherwise stated. Vice-President S. Groff, Operations 2 Director General A. Konishi, East Asia Department (EARD) Director H. Sharif, People’s Republic of China Resident Mission, EARD Team leader F. Wang, Senior Project Officer (Financial Management), EARD Team members Y. Gao, Project Analyst, EARD Z. Niu, Senior Project Officer (Environment), EARD W. Zhu, Senior Project Officer (Resettlement), EARD In preparing any country program or strategy, financing any project, or by making any designation of or reference to a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area. CONTENTS Page BASIC DATA i I. PROJECT DESCRIPTION 1 II. EVALUATION OF DESIGN AND IMPLEMENTATION 1 A. Relevance of Design and Formulation 1 B. Project Outputs 3 C. Project Costs 4 D. Disbursements 5 E. Project Schedule 5 F. Implementation Arrangements 6 G. Conditions and Covenants 6 H. Consultant Recruitment and Procurement 7 I. Performance of Consultants, Contractors, and Suppliers 8 J. Performance of the Borrower and the Executing Agency 8 K. Performance of the Asian Development Bank 8 III. EVALUATION OF PERFORMANCE 9 A. Relevance 9 B. Effectiveness in Achieving Outcome 9 C. Efficiency in Achieving Outcome and Outputs 10 D. Preliminary Assessment of Sustainability 11 E. Impact 11 IV. OVERALL ASSESSMENT AND RECOMMENDATIONS 13 A. Overall Assessment 13 B. Lessons 14 C. Recommendations 14 APPENDIXES 1. Design and Monitoring Framework 16 2. Chronology of Major Events 20 3. Project Cost and Financing Plan 21 4. Projected and Actual Contract Awards and Disbursements 22 5. Project Implementation Schedule 23 6. Organization Charts 24 7. Compliance with Loan Covenants 26 8. Contract Packages Financed by the Asian Development Bank 38 9. Economic Reevaluation 40 10. Financial Reevaluation 44 11. Social Impact and Poverty Reduction in the Project Area 47 12. Land Acquisition and Resettlement 54 13. Environmental Impact Analysis 61 BASIC DATA A. Loan Identification 1. Country The People’s Republic of China 2. Loan Number 2274-PRC 3. Project Title Taiyuan–Zhongwei Railway Project 4. Borrower People’s Republic of China 5. Executing Agency Ministry of Railways 6. Amount of Loan $300.0 million 7. Project Completion Report Number PCR: PRC 1449 B. Loan Data 1. Appraisal – Date Started 16 March 2006 – Date Completed 23 March 2006 2. Loan Negotiations – Date Started 24 October 2006 – Date Completed 25 October 2006 3. Date of Board Approval 23 November 2006 4. Date of Loan Agreement 24 May 2007 5. Date of Loan Effectiveness – In Loan Agreement 22 August 2007 – Actual 21 August 2007 – Number of Extensions 0 6. Closing Date – In Loan Agreement 31 December 2012 – Actual 20 December 2012 – Number of Extensions 0 7. Terms of Loan – Interest Rate ADB's London interbank offered rate-based rate – Maturity (number of years) 26 years – Grace Period (number of years) 6 years 8. Terms of Relending (if any) – Interest Rate Not applicable – Maturity (number of years) – Grace Period (number of years) – Second-Step Borrower 9. Disbursements a. Dates Initial Disbursement Final Disbursement Time Interval 13 November 2007 7 December 2012 61 months Effective Date Original Closing Date Time Interval 21 August 2007 31 December 2012 64 months ii b. Amount ($) Last Original Amount Net Amount Amount Undisbursed Category Revised Allocation Canceled Available Disbursed Balance Allocation Equipment 113,900,000 28,090,825 0 28,090,825 28,090,825 0 Materials 157,400,000 271,509,175 0 271,509,175 271,509,175 0 Consulting services 400,000 400,000 400,000 0 0 0 Unallocated 28,300,000 0 0 0 0 0 Total 300,000,000 300,000,000 400,000 299,600,000 299,600,000 0 Source: Asian development Bank. C. Project Data 1. Project Cost ($ million) Cost Appraisal Estimate Actual Foreign Exchange Cost 1,080.2 299.6 Local Currency Cost 2,672.7 6,753.0 Total 3,752.9 7,052.6 2. Financing Plan ($ million) Cost Appraisal Estimate Actual Asian Development Bank 300.0 299.6 MOR, SPG, SAPG, NHARG and other 1,314.4 2,327.4 shareholders Domestic banks and bonds a 2,138.5 4,425.6 Total 3,752.9 7,052.6 MOR = Ministry of Railways, SPG = Shanxi provincial government, SAPG = Shaanxi provincial government, NHARG = Ningxia Hui Autonomous Region government. a Including China Development Bank, China Construction Bank, China Industrial and Commercial Bank, and bonds issued by the Ministry of Railways. Source: Ministry of Railways. 3. Cost Breakdown by Project Component ($ million) Appraisal Estimate Actual Component Foreign Local Total Foreign Local Total Exchange Currency Cost Exchange Currency Cost A. Base Costs 1. Railway civil works, track work, 717.2 1,523.6 2,240.8 271.5 4,498.8 4,770.3 and environmental protection 2. Telecommunications, 111.9 84.1 196.0 0.0 256.6 256.6 signaling, safety, e- Governance, and MIS 3. Electric power and traction 90.0 124.3 214.3 28.1 286.1 314.2 4. Buildings and facilities 1.4 27.6 29.0 0.0 78.4 78.4 5. Land acquisition and 0.0 183.1 183.1 0.0 794.3 794.3 resettlement 6. Administration, consulting 19.5 110.6 130.1 0.0 350.9 350.9 services, and training 7. Temporary facilities and 0.0 40.2 40.2 0.0 44.4 44.4 transitional works 8. Other equipment and facilities 4.7 4.2 8.9 0.0 140.9 140.9 Subtotal (A) 944.7 2,097.7 3,042.4 299.6 6,450.4 6,750.0 iii Appraisal Estimate Actual Component Foreign Local Total Foreign Local Total Exchange Currency Cost Exchange Currency Cost B. Contingencies 1. Physical 52.9 117.5 170.4 0.0 0.0 0.0 2. Price escalation 34.7 112.4 147.1 0.0 0.0 0.0 Subtotal (B) 87.6 229.9 317.5 0.0 0.0 0.0 C. Interest During Construction 47.9 345.1 393.0 0.0 302.6 302.6 Total 1,080.2 2,672.7 3,752.9 299.6 6,753.0 7,052.6 ADB = Asian Development Bank, MIS = transport management information system. Sources: Asian Development Bank and Ministry of Railways. 4. Project Schedule Item Appraisal Estimate Actual Date of contract with consultants Jan 2004 Jan 2005 Completion of engineering designs Dec 2006 Jul 2006 Civil works contract Date of award Dec 2006 Mar 2006 Completion of work Apr 2010 Dec 2010 Equipment and supplies Dates First procurement Jun 2008 Aug 2007 Last procurement May 2011 May 2011a Completion of equipment installation May 2011 Oct 2010 Start of operations Jun 2011 Jan 2011 a The last procurement was for additional material for stations and yards, while equipment installation for the main line was completed in October 2010. Source: Asian Development Bank. 5. Project Performance Report Ratings Ratings Implementation Period Development Objectives Implementation Progress From Nov 2006 to Jun 2008 Satisfactory Satisfactory From Jul 2008 to Jun 2009 Satisfactory Highly Satisfactory From Jul 2009 to May 2010 Satisfactory Satisfactory From Jun 2010 to Dec 2010 Satisfactory Highly Satisfactory From Jan 2011 to Dec 2012 Satisfactory Satisfactory Source: Asian Development Bank. D. Data on Asian Development Bank Missions No. of No. of Specialization Name of Mission Date Persons Person-Days of Membera Fact-finding 16-25 Jan 2006 6 54 a, b, c, d, e, f Appraisal 16-23 Mar 2006 1 7 a Inception mission 15-19 Nov 2007 2 8 a, g Review mission 1 21-28 Oct 2008 2 14 a, g Midterm review and handover mission 17-24 Nov 2009 5 23 a, g, c, h, i, j Review mission 2 19-23 Oct 2010 3 12 g, i, j Review mission 3 29 Aug-2 Sep 2011 4 16 g, i, j, k Review mission 4 12-15 Dec 2012 2 3 i, j Project completion review 10-16 Sep 2013 2 12 i, j a a = transport specialist, b = project economist, c = resettlement specialist, d = financial specialist, e = environment specialist, f = counsel, g = project analyst, h = social development specialist, i = financial management officer, j = resettlement officer, k = environment officer. Source: Asian Development Bank. I. PROJECT DESCRIPTION 1. Railways play an important role in transport in the People’s Republic of China (PRC) due to the country’s large size and population. The Government of the PRC has been increasing railway transport capacity to meet economic and social development needs.
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