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The Landscape of Financiers

January 2020

Infrastructure Projects in The Landscape of Financiers

January 2020

Infrastructure Projects in India

The Landscape of Financiers

Author: Gaurav Dwivedi

Published by: Centre for Financial Accountability

R-21, South Extension II, New - 110049 www.cenfa.org | [email protected] | +91-11-49123696

January 2020

Copyleft: Free to use any part of this document for non-commercial purpose, with acknowledgment of source.

For Private Circulation Only

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Infrastructure Projects Financing Mapping

TABLE OF CONTENTS

Introduction 4

Infrastructure Development In India 6 Major Infrastructure Development Projects In India Smart Cities 12

Industrial Corridors 15

Railway Dedicated Freight Corridors 30

Inland Waterways 35

Bharatmala Pariyojana 38

Sagarmala Programme 42

Annexure I – List Of Smart Cities In India State-Wise 52

Annexure II - Projects Proposed Or Implemented Under DMIC 55

Annexure III – States Traversed By Eastern DFC, Goods Carried And Traffic Projections 58

Annexure IV - States Traversed By Western Dfc, Goods Carried And Traffic Projections 60

Annexure V – Declared And Identified National Waterways 63

Annexure VI - Details Of Projects Implemented Under Sagarmala Programme 67 Annexure VII - Details Of Major Infrastructure Projects Supported By Some Of The IFIs As Well As Bilateral Agencies In India 72

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Infrastructure Projects Financing Mapping

INTRODUCTION

This mapping document looks at infrastructure sector in India, its basic concepts, estimates by the , the World Bank (WB), Asian Development Bank (ADB), International Finance Corporation (IFC), Asian Infrastructure Investment Bank (AIIB) and others regarding the funds required to invest in India’s infrastructure sector, as well as some of the current financing trends such as Public-Private Partnerships (PPPs) and Hybrid Annuity Model — that are being recommended as a part of policy changes to implement infrastructure projects as well as the allocations made by the government for the infrastructure sector and also the various agencies and institutions.

This document provides an overview of the operational and financial mechanisms of some of the significant ongoing and proposed infrastructure programs like , Industrial Corridors,

Dedicated Railway Freight Corridors, Inland Waterways, and Sagarmala Programme. It also maps several projects financed by International Financial Institutions (IFIs) as well as bilateral agencies providing support to these mega projects in the country.

It maps infrastructure projects financed by IFIs such as the WB, ADB, AIIB, IFC as well as bilateral agencies like Japan Bank for International Cooperation (JBIC) and Japan International Cooperation Agency (JICA) across various sectors in India. It includes investments in sectors such as transport, roads and highways, metros, electric vehicles, smart cities, waterways, water, industrial corridor, urban, power plants, transmission lines and distribution systems, solar parks, housing, climate resilience, railway freight corridor, port expansions and others.

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Infrastructure Projects Financing Mapping

The mapping document shows that increasingly the investments by these institutions/ agencies are to the financial intermediaries such National Investment and Infrastructure Fund (NIIF), IFC Emerging Asia Fund, India Infrastructure Fund, India Infrastructure Finance Company Limited, Infrastructure Fund Management Company Limited and others.

The mapping document details the sector-wise investment trends which are given a push through the investments from the MDBs and bilateral agencies. Though the amounts given might look small in comparison to the overall project expenditure estimates and the long timelines for infrastructure projects. Nevertheless, these investments look to provide the initial capital to conceptualise projects and build a credible pipeline of such projects to attract private investors.

The MDBs and bilateral agencies also intervene in policy spaces to influence the policies that could have an impact on the investments in specific sectors.

The document and the mapping exercise are work in progress. We intend to keep updating this document whenever we get more information on the projects, their implementation, financiers and financing mechanisms.

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Infrastructure Projects Financing Mapping

INFRASTRUCTURE DEVELOPMENT IN INDIA

The focus on infrastructure sector as a key driver for the Indian economy has been underlined repeatedly. It is highlighted that the sector would be responsible for propelling India’s overall development and it enjoys intense focus from Government for initiating policies that would ensure time-bound creation of world class infrastructure in the country. Infrastructure sector includes power generation and transmission, highways, ports, bridges, dams, industrial zones, railway freight corridors, inland waterways and urban infrastructure development, which includes smart cities, housing, water supply and sanitation.

Infrastructure has been defined on the Merriam Webster as – “the system of public works of a country, state, or region also the resources (such as personnel, buildings, or equipment) required for an activity, the underlying foundation or basic framework (as of a system or organisation), the permanent installations required for military purposes”.

Infra- means "below;" so the infrastructure is the "underlying structure" of a country and its economy, the fixed installations that it needs to function. These include roads, bridges, dams, the water and sewer systems, railways and subways, airports, and harbours. railways and subways, airports, and harbours. These are generally government-built and publicly owned. airports, and harbours. These are generally government-built and publicly owned.1

Types of Infrastructure

Infrastructure can be categorised into: Soft Infrastructure: These types of infrastructure make up institutions that help maintain the economy. These usually require human capital and help deliver specific services to the

- 6 - 1 Merriam-Webster, Infrastructure definition, source URL: https://www.merriam- webster.com/dictionary/infrastructure#other-words

Infrastructure Projects Financing Mapping

population. Examples of soft infrastructure include the healthcare system, financial institutions, governmental systems, law enforcement, and education systems.

Hard Infrastructure: These make up the physical systems that make it necessary to run a modern, industrialised nation. Examples of hard infrastructure include roads, highways, bridges, as well as the capital/assets needed to make them operational (transit buses, vehicles, oil rigs/refineries).

Critical Infrastructure: These are assets defined by a government as being essential to the functioning of a society and economy. Examples of this include facilities for shelter and heating, telecommunication, public health, agriculture, etc.2. According to the Government of India’s Economic Survey 2017-18 - “to ensure high and sustainable growth, there has been a substantial increase in investment in transportation, energy, communication, housing and sanitation, and urban infrastructure sector. However, the Global Infrastructure Outlook observes that rising income levels and economic prosperity is likely to further drive demand for infrastructure investment in India over the next 25 years. Till 2040, India needs around investments worth USD 4.5 trillion to develop infrastructure to improve economic growth and community wellbeing. The current trend shows that India can meet around USD 3.9 trillion infrastructure investment out of USD 4.5 trillion. The cumulative figure for India’s infrastructure investment gap would be around USD 526 billion by 2040”. 3

The Economic Survey, 2017 -18, adds that – “there was massive underinvestment in the infrastructure sector until recently. The reasons behind the shortfall were the collapse of PPPs, especially in power and telecom projects; stressed balance sheets of private companies; and issues related to land and forest clearances. The need of the hour is to fill the infrastructure investment gap by financing from private investment, institutions dedicated for infrastructure financing like National Infrastructure Investment Bank (NIIB) and also global institutions like Asian Infrastructure Investment Bank (AIIB), New Development Bank (erstwhile BRICS Bank) which focuses more on sustainable development projects and infrastructure projects”.

The Survey further discusses the details of estimated requirements and budget outlays for various sectors required to build such infrastructure in roads transport and highways,

2 Investopedia, Infrastructure, source URL: https://www.investopedia.com/terms/i/infrastructure.asp 3 Ministry of Finance, Economic Survey 2017-18, source URL: - 7 - http://mofapp.nic.in:8080/economicsurvey/pdf/120-150_Chapter_08_Economic_Survey_2017- 18.pdf

Infrastructure Projects Financing Mapping

railways, metro rail systems, civil aviation, shipping, Sagarmala and Bharatmala projects, Inland waterways, telecom, power and energy, logistics, petroleum and natural gas, and housing for all.

IFC, the private lending arm of the WB, in a recent analysis of the climate-smart investment opportunities in infrastructure sectors like renewable energy, transportation, climate smart water supply, solid waste management, green buildings, climate smart agriculture and large hydro estimates that between 2018 to 2030 India needs USD 2.2 trillion4.

A 2019 report by AIIB on infrastructure finance5 states that AIIB’s priority is to mobilise private capital into infrastructure. AIIB, which does not offer concessionary financing, has a focused mandate on infrastructure financing and it does not offer concessionary financing. The report discloses that, through various instruments, AIIB will develop a high degree of flexibility in financing through various instruments. Similarly, AIIB’s strategy on mobilising private capital for infrastructure (2018) spells out its vision as a bank that will help develop emerging market infrastructure as an asset class6.

ADB’s report titled Meeting Asia’s Infrastructure Needs estimates that as per the baseline estimate the cost to address India’s infrastructure deficit is around USD 230 billion per year. If the estimates are climate-adjusted, this deficit will grow to USD 261 billion in the 2016- 2020 period. The report approximates that the investments are around USD 118 billion, thus creating a gap of USD 112 billion and USD 144 billion (climate-adjusted) at the 2015 prices. This amount is equivalent to 7.1 per cent of GDP, compared with 5.5% of GDP invested during FY2012–FY2013.7

ADB’s Country Partnership Strategy (2018 - 2022)8 states that there are sizable gaps in financing and institutional capacities. The fiscal space for some state governments is

4 IFC, Climate Investment Opportunities in Emerging Markets-An IFC Analysis, Source URL- https://www.ifc.org/wps/wcm/connect/59260145-ec2e-40de-97e6-3aa78b82b3c9/3503-IFC- Climate_Investment_Opportunity-Report-Dec-FINAL.pdf?MOD=AJPERES&CVID=lBLd6Xq 5 AIIB, Asian Infrastructure Finance 2019 Bridging Borders: Infrastructure to Connect Asia and Beyond Source URL - https://www.aiib.org/en/news-events/asian-infrastructure- finance/common/base/download/AIIB-Asian-Infrastructure-Finance-2019-Report.pdf 6 AIIB, Strategy on Mobilizing Private Capital for Infrastructure, Source URL - https://www.aiib.org/en/policies-strategies/_download/mobilizing_private/Strategy-on-Mobilizing- Private-Capital-for-Infrastructure.pdf 7 Asian Development Bank, Meeting Asia’s Infrastructure Needs, source URL: https://www.adb.org/publications/asia-infrastructure-needs - 8 - 8 ADB, India: Country Partnership Strategy (2018 – 2022), Source URL - https://www.adb.org/documents/india-country-partnership-strategy-2018-2022

Infrastructure Projects Financing Mapping

increasingly constrained. Meanwhile, as non-performing infrastructure assets of previous PPPs proliferated, the private sector’s participation in infrastructure dropped from over USD 55 billion (2010) to USD 5 billion (2015). This is associated with the lower viability of many PPP projects due to implementation delays, lower-than-expected revenues, and other risks that had to be borne by investors.

The WB notes that the Government of India estimates that under the 12th Five-Year Plan USD 1 trillion will be needed to bridge India’s infrastructure gap. It emphasises that WB can play a catalytic role in financing, including from external sources, and capacity needs to be mobilised.9 The central government is trying to create more fiscal space by enhancing the efficiency of tax collection and expenditure distribution, and by devolving more resources to states. It also seeks to revitalise PPPs by strengthening PPP institutions, promote improved contractual modalities, pursue fair allocation of risks and strengthen progress monitoring. However, states with limited fiscal space need to rationalise expenditures and mobilise revenues while strengthening investment cost-recovery mechanisms. Urban local bodies need to tap revenue sources and private capital increasingly.10

The Economic Survey also indicated that the failure of PPP model to deliver on various aspects has led the government to finance projects through models like Hybrid Annuity Model (HAM)11, government fully serviced bonds, station redevelopment, private investment, foreign direct investment, Infrastructure Investment Trusts route, LIC, Long Term Pension Funds, etc. apart from the financial support from the national financial institutions (NFIs) and IFIs.

Similarly, policy recommendations to finance these mega projects are being made by NFIs like public sector banks, LIC, etc and IFIs like the WB, ADB, IFC, AIIB etc. in their country strategy documents, infrastructure development reports, and analysis of the investments required.

The announcements in Union Budget 2019-20 look to provide further boost to the infrastructure sector:

9 World Bank, Country Partnership Strategy For India For The Period FY 2013–2017, Source URL - http://documents.worldbank.org/curated/en/207621468268202774/India-Country-partnership- strategy-for-the-period-FY13-FY17 10 Asian Development Bank, India: Country Partnership Strategy (2018 – 2022) https://www.adb.org/documents/india-country-partnership-strategy-2018-2022 - 9 - 11 Hybrid Annuity Model (HAM) is a combination of two models i.e., the EPC (Engineering, Procurement and Construction) model and BOT - Annuity (Build, Operate, Transfer) model.

Infrastructure Projects Financing Mapping

The Government of India has given a massive push to the infrastructure sector by allocating Rs 4.56 lakh crore (US$ 63.20 billion) for the sector. Communication sector allocated Rs 38,637.46 crore (US$ 5.36 billion) to development of post and telecommunications departments.

• The Indian Railways received allocation under Union Budget 2019-20 at Rs 66.77 billion (US$ 9.25 billion). Out of this allocation, Rs 64.587 billion (US$ 8.95 billion) is capital expenditure. • Rs 83,015.97 crore (US$11.51 billion) allocated towards road transport and highway. • Rs 3,899.9 crore (US$ 540.53 billion) to increase capacity of Green Energy Corridor Project along with wind and solar power projects. • Allocation of Rs 8,350.00 crore (US$ 1.16 billion) to boost telecom infrastructure. • Water supply to be provided to all households in 500 cities”.12

There has been little discussion on the implications of these mega investments and projects on the local communities, natural resources and environment. Critical concerns such as infrastructure for whom and where have largely been ignored. The public consultations with communities are also missing during the conceptualisation and implementation. The investments from IFIs have social, environment and safeguard policies to comply. However, these policies are absent in NFIs, private investors and financial intermediaries, which are increasingly being used to finance these projects. Consequently, most of the finances coming from these institutions do not observe the transparency and accountability mechanisms.

Notwithstanding the problems and failure of PPPs for infrastructure development, PPPs are being promoted by various government and international agencies to implement these mega infrastructure projects. The problems of financing and operationalising PPP contracts in roads, power, water supply, sanitation have been well-documented across the world. Regardless of experiences and evidence, PPP model is being strongly recommended for more such projects. The World Bank Country Partnership Framework (FY18 – 22)13 for India advocates private finance, increasing focus on facilitating private sector solutions to development challenges including steps such as advisory and lending support for PPP

12 IBEF, Infrastructure Sector in India, Source URL - https://www.ibef.org/industry/infrastructure- sector-india.aspx 13 World Bank, India - Country Partnership Framework for the Period FY18-FY22 (English), - 10 - Source URL - http://documents.worldbank.org/curated/en/277621537673420666/India-Country- Partnership-Framework-for-the-Period-FY18-FY22

Infrastructure Projects Financing Mapping

transactions. Similarly, ADB, AIIB and IFC look to increase and extend support PPP transactions.

However, PPP model is being increasingly used as a mechanism to link infrastructure projects to financial markets and financialisation of infrastructure i.e. increasing use of financial markets-based instruments like exchange-traded funds, index funds, infrastructure funds, etc. The financialisation is leading to infrastructure development for the creation of revenue streams for the investors while ignoring the needs and demands of the local communities or public welfare. Due to the linkage with the markets and thrust on profitability, market-based instruments and agencies would be deciding what, where, and for whom the infrastructure would be built. For investors, infrastructure is now an asset class, the boundaries of which are limited only by the ability of finance to build new contracted income streams that extract wealth, directly or indirectly, from the activities that surround the funding, construction and operation of infrastructure facilities. Though this began with investments in primarily economic infrastructure such as utilities, roads, ports, airports etc.; it also includes social infrastructure such as hospitals, public housing, schools and others; resource/ commodity infrastructure such as oil and gas facilities, mining, forests and food storage facilities; information infrastructure such as cloud-based computing systems and big data harvesting as well as a recent addition natural infrastructure where income streams are constructed through payments for environmental services.14

- 11 - 14 Nicholas Hildyard, Licensed Larceny Infrastructure financial extraction and the Global South, Manchester University Press, 2016.

Infrastructure Projects Financing Mapping

MAJOR INFRASTRUCTURE DEVELOPMENT PROJECTS IN INDIA

Smart Cities

Smart Cities Mission15 is projected as a high-profile initiative which will transform the urban landscape in India. In the first phase of the Smart Cities Mission, 100 cities of the country are targeted. Similarly, 500 cities have been targeted to be developed under AMRUT (Atal Mission for Rejuvenation and Urban Transformation). The mission was launched on June 25, 2015, by the Prime Minister. The provision of the budget for Smart City by the Central Government is Rs 48,000 crores and Rs 50,000 crores for AMRUT.

For the first phase under the Smart City program, in January 2016, 20 cities were selected through the Smart City Challenge Competition. In the later phases, 79 cities have been further selected to be part of the mission. To make these cities smart, governments would - 12 -

15 Smart Cities Mission, Source URL - http://www.smartcities.gov.in/content/

Infrastructure Projects Financing Mapping

spend approximately Rs 96,000 crore in the next five years. Out of this, Rs 48,000 would come from the central government, and the respective state governments would bear a similar amount. In the selected cities, the central government would invest Rs 100 crores, and the state government would spend an equal amount in the form of a grant.

Additionally, the projects at the municipal level under the mission would be implemented through a Special Purpose Vehicle (SPV) which would be a limited company to keep it uncoupled from the larger governance and democratic processes. The SPV would be formed based on a tripartite agreement between the Centre, State, and the municipal body. For monitoring of the project, a national council is being formed which would be part of the US- based Smart Cities Council16.

As per the mission guidelines, four modes have been proposed to undertake the development of a smart city – retrofitting, redevelopment, Greenfield development, and pan- city development. These modes would be used to develop around 500 acres of the selected city where infrastructure already exists with the help of smart internet-based applications. Even though there is no broadly accepted definition of a Smart City, it is claimed that Smart City would be based on digital and information technology. This would make the working conditions more efficient, services easily accessible to the residents. It appears that a smart city would be based on demand and supply principles, and the services would be delivered efficiently.

The government has claimed that a Smart City would provide good quality life to residents, clean environment, along with 24x7 water supply and electricity, health and education services, improved transport services, smart sewage treatment, solid waste management on full cost recovery basis to the residents.

Financing Smart Cities:

Finances and financing mechanisms form a crucial aspect for the smart cities mission, which is going to be a capital-intensive urban infrastructure development program. The central government, NFIs and IFIs have proposed several measures to bring in funds to build a smart city in the existing urban spaces. For the implementation of smart cities mission, it has been

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16 Smart Cities Council, Source URL - https://smartcitiescouncil.com/

Infrastructure Projects Financing Mapping

recommended to the municipal bodies to generate funds by increasing property tax, professional tax, entertainment tax, advertisement tax, entry tax etc.17

Additionally, funds would also be available on the implementation of the recommendations of the 14th Central Finance Commission. These recommendations include vacant land tax, user charges for water, electricity, telecom, gas, parking fees, tax on public transport and charges on changes in land and building use. It has also been suggested that water supply and sewage should be charged separately from property tax and the charges should be increased to such levels that at least operation and maintenance cost is recovered. The increases should also be linked to inflation. The user charges should be recovered based on the quality of the services delivered. It has been recommended that public services like water supply, sanitation, sewage, transport, etc. to be delivered by private partners through PPP

- 14 - 17 Financing Smart Cities, Source URL - http://www.smartcities.gov.in/upload/uploadfiles/files/Financing%20of%20Smart%20Cities.pdf

Infrastructure Projects Financing Mapping

mode. The other sources for generating funds that have been suggested are municipal bonds, pooled finance mechanisms.18

IFIs like WB, ADB, IFC, AIIB and bilateral agencies from the US, France, Germany, Japan, Singapore and others have increasingly shown interest in providing finances for the smart cities. ADB is looking to invest in USD 500 million through the proposed Smart Cities Infrastructure Investment Program. It is also investing in smart cities through the project Strengthening Climate Change Resilience in Urban India. Apart from this, ADB projects are providing support to PPPs in infrastructure development. The WB is likely to loan USD 1500 million through its proposed Urban Reforms Program (AMRUT Plus) for smart cities mission and other urban development projects in various states. As a co-financier with AIIB, the WB was also involved in funding USD 300 million to the Sustainable Capital City Development Project. Apart from the agencies mentioned above, private investors are also interested in investing in the various smart city-related urban infrastructure projects.

Annexure 1 – List of Smart Cities in India State-wise.

Industrial Corridors

An industrial corridor is generally defined as a set of linear projects designed for an area to promote infrastructure and industrial development. Its broad objectives include creating areas urban, manufacturing or other industry clusters. Industrial corridors are planned such that an arterial link, such as a highway or railway, receives feeder roads or railways.

The Government of India has envisaged five industrial and economic corridors: Delhi- Industrial Corridor (DMIC); Bengaluru- Mumbai Economic Corridor (BMEC); -Bengaluru Industrial Corridor (CBIC); -Chennai Industrial Corridor (VCIC); and - Industrial Corridor (AKIC).

Delhi-Mumbai Industrial Corridor (DMIC)

DMIC project was launched in pursuance of – “an MOU signed between the Government of India and the Government of Japan in December 2006. DMIC Development Corporation (DMICDC) incorporated in 2008, is the implementing agency for the project. DMICDC has been registered as a company with 49% equity of Government of India, 26% equity of the JBIC and the remaining held by government financial institutions. The Japanese Government had also announced financial support for DMIC project to an extent of US$ 4.5 billion in the - 15 -

18 Ibid

Infrastructure Projects Financing Mapping

first phase for the projects with Japanese participation involving cutting edge technology. The project spans the States of , , , , and along the Western Dedicated Freight Corridor (DFC) of the railways. Initially, 8 nodes/cities in the six DMIC states have been taken up for development”.19

“The project aims to create smart, sustainable industrial cities by leveraging the high speed, high capacity connectivity backbone provided by the Western Dedicated Freight Corridor (DFC) to reduce logistic costs in an enabling policy framework. These new cities will come up in the States of Uttar Pradesh, Haryana, Rajasthan, Madhya Pradesh, Gujarat and Maharashtra”.20

“The Perspective Plan prepared for DMIC has identified 24 investment nodes (11 Investment Regions (IRs) and 13 Industrial Areas (IAs)) spanning across six states after wide consultations with stakeholders including the State Governments and the concerned Central Government Ministries. Out of 24 investment nodes, following 8 Industrial Cities have been taken up for development in the first phase of DMIC Project, on the recommendations of the respective State Government(s)”.21

The following table gives the details of the industrial regions that are being developed under DMIC22 -

AREA Name Of The Node STATE [IN SQ.KM]

Dadri-Noida- Investment Region Uttar Pradesh 210

Manesar-Bawal Investment Region Haryana 402

Khushkhera-Bhiwadi-Neemrana Investment Rajasthan 160 Region Pithampur-Dhar-Mhow Investment Region Madhya Pradesh 372

Ahmedabad-Dholera Investment Region Gujarat 920

Shendra Bidkin Investment Region Maharashtra 84

Dighi Port Industrial Area Maharashtra 253

19 Department for Promotion of Industry and Internal Trade, Source URL - https://dipp.gov.in/japan- plus/delhi-mumbai-industrial-corridor-dmic 20 Department for Promotion of Industry and Internal Trade, Source URL - https://dipp.gov.in/programmes-and-schemes/infrastructure/industrial-corridors - 16 - 21 Ibid 22 Ibid

Infrastructure Projects Financing Mapping

Jodhpur Pali Marwar Industrial Area Rajasthan 155

Among the above construction related activities have begun at – Dholera Special Inverstment Region, Shendra Bidkin Industrial Area, Integrated Industrial Township Project at Greater Noida and Integrated Industrial Township Project at .

Apart from the above projects, other projects that are moving forward are23 -

• Mass Rapid Transit System (MRTS) Project from Gurgaon to Bawal in Haryana and to Dholera in Gujarat;

• Integrated Multi Modal Logistics Hub (IMLH) Project, Nangal Chaudhary at Haryana;

• Global City Project at Haryana;

• Multi Modal Logistics Hub (MMLH) and Multi Modal Transport Hub (MMTH) at Dadri, Uttar Pradesh;

• Multi Modal Logistics Park at Sanand in Gujarat;

• Greenfield International Airport Project at Dholera in Gujarat;

• Aerotropolis Project at Rajasthan;

• Exhibition cum Convention Centre (ECC) Project at Dwarka, Delhi

“DMICDC acts as a knowledge partner to National Industrial Corridor Development and Implementation Trust (NICDIT) in respect of all the Industrial Corridor Projects for undertaking various project development activities.

“For coordinated and unified development of all the industrial corridors projects including DMIC, GoI on December7, 2016 approved the expansion of the scope of existing DMIC- Project Implementation Trust Fund (PITF) and re-designated it as NICDIT. Accordingly, NICDIT is under the administrative control of DIPP for coordinated and unified development of all the industrial corridors which are at various stages of development and implementation. All the corridors namely Delhi – Mumbai Industrial Corridor, Amritsar – Kolkata Industrial Corridor, Bengaluru – Mumbai Industrial Corridor, Chennai-Bengaluru Industrial Corridor, Vizag Chennai Industrial Corridor and other corridors in future will function under the administrative control of NICDIT.

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23 Ibid

Infrastructure Projects Financing Mapping

“Each industrial city /node in the Industrial Corridors is envisaged to be implemented by a Special Purpose Vehicle (SPV) in the form of a company set up under the Companies Act, as a joint venture between Govt. of India represented through NICDIT, and the respective State Government, in the manner approved for NICDIT (earlier DMIC Trust)”.24

Financing Projects Under DMIC

It has been reported that – “implementation of DMIC Project requires an estimated investment of US$ 90 billion for developing projects that can be implemented through Public Private Partnership (PPP) and for projects that need to be developed through budgetary resources. Broad assessment indicates that there is a potential to implement projects, worth 75% of the estimated overall investment, through PPP. DMICDC has been registered as SPV and envisaged for undertaking planning and project development activity in the project”.25

“A Project Development Fund (PDF), known as DMIC-PDF has been set up to provide availability of funds for various project development/preparatory activities, approved by Government of India and Government of Japan, by raising at least INR 1000 Crore (US$ 250 million). This would be used as a Revolving Fund specifically for undertaking project development activities. PDF has been used as a mechanism to fund the project development activities for implementation of infrastructure projects through PPP. PDF may fund unviable projects. However, expenses for such projects would be reimbursed to the PDF by respective central/state government agencies.

“Funds to the PDF can be raised through a combination of debt and equity. The contributors/ lenders to the PDF may include Governments of India and Japan, respective state governments, Multilateal Agencies, Financial Institutions, Commercial Banks as well as FIIs.

“Government of Japan expressed its interest to make equal contribution, as Government of India, by offering US$125 Million, in tranches, as untied loan of Japan Bank for International Cooperation (JBIC)”.

“DMIC PDF will have no separate legal status as it would be set up as two separate corporate accounts under the ambit of DMICDC. Government of India's fund contribution (through Grants/Loans) to PDF would be housed under a separate account of DMIC-PDF, referred as

24 Ibid - 18 - 25 Centre for Urban Research, DMIC, Source URL - http://delhimumbaiindustrialcorridor.com/financial-analysis-of-dmic-project.html

Infrastructure Projects Financing Mapping

'DMIC-PDF-Indian Account', Government of Japan's contribution (through JBIC Untied Loan) would be accommodated under DMIC-PDF-Japanese Account'.

“The recommendations by the Japan External Trade Organization (JETRO) to the Investment Committee are needed for using funds from the Japanese Account. A project with JETRO's recommendation will be financed by the funds from the Japanese Accounts. India Infrastructure Finance Company Limited (IIFCL) will borrow funds for DMIC PDF from Government of Japan through a Loan Agreement to be executed between IIFCL and Japan Bank for International Cooperation (JBIC). Ministry of Finance, Government of India, will provide the sovereign guarantee to this loan.

“PDF will finance the preparation of overall development plan (such as Master Plans) and Feasibility Studies of identified projects therein, which will be subsequently recovered by apportioning on to respective projects that would be developed by the private sector. PDF can be further used for setting up special purpose companies for projects approved by the Board of DMICDC by way of share capital, unsecured loans, convertible debt or other quasi equity structures.

“Contributors to DMICDC: - Expected form of contribution to DMIC PDF: - Government of India - 50% (by way of a grant) - Government of Japan- 50% (by way of untied loans) - Funding from other sources such as beneficiary State Governments, Commercial Banks/ Financial Institutions/ Multilateral Agencies, shall be discussed and organized at a later stage, if required”.26

Annexure 2 - Details of some of the projects approved by DMIC Trust along with the current status of these projects are given in.

- 19 - 26 Centre for Urban Research, DMIC, Source URL - http://delhimumbaiindustrialcorridor.com/financial-analysis-of-dmic-project.html

Infrastructure Projects Financing Mapping

Amritsar Kolkata Industrial Corridor (AKIC)27

• The Union Cabinet approved setting up the AKIC and formation of the AKIC Development Corporation (AKICDC) in January 2014. An Inter-Ministerial Group (IMG) was set up to do the preparatory work for AKIC. • As per the IMG, AKIC will be developed in a band of 150-200 km on either side of the Eastern Dedicated Freight Corridor (EDFC) in a phased manner. AKIC will be spread across a belt of at least 5.5 lakh sq km comprising 20 cities in seven states -- , Haryana, Uttar Pradesh, , , and .

- 20 - 27 Projects Today, India’s Upcoming Industrial Corridors, Source URL - projectstoday.com/WeekAtGlance/Indias-Upcoming-Industrial-Corridors

Infrastructure Projects Financing Mapping

• In the Phase-I of the AKIC project, each state is encouraged to promote at least one cluster of about 10 sq km area to be called Integrated Manufacturing Cluster (IMC), in which 40 per cent area would be earmarked permanently for manufacturing and processing activities. For the development of the seven IMCs, an estimated maximum financial commitment of about Rs 5,749 crore, extended over 15 years, from Central government is proposed. The IMCs envisaged under the project would be entitled to all the benefits available under the National Manufacturing Policy (NMP) 2011. • AKICDC will use both the PPP approach and non-PPP approach.28

• A consultant was appointed for the preparation of the Regional Perspective Plan for the AKIC Region along with undertaking Feasibility and preparing Concept Master Plan in all seven AKIC States.

• It is envisaged that after the completion of the perspective plan, the detailed master planning, preliminary design and engineering for the areas that will be made available by the State Government will be taken up.29

28 Projects Today, India’s Upcoming Industrial Corridors, source URL: projectstoday.com/WeekAtGlance/Indias-Upcoming-Industrial-Corridors - 21 - 29 , Industrial Corridor, source URL: http://www.makeinindia.com/live-projects- industrial-corridor/

Infrastructure Projects Financing Mapping

Bengaluru- Mumbai Economic Corridor (BMEC)

• The corridor will start from Bengaluru, and pass via , Chitradurga, , and (in ), Kolhapur, Sangli, Satara, Karad and , and end in Mumbai (in Maharashtra).30

• Delhi Mumbai Industrial Corridor Development Corporation Ltd. (DMICDC) and UK Trade and Investment (UKTI) have been identified as the nodal agencies on Indian side and UK side for this project. DMICDC has appointed M/s Egis India Consulting Engineers Pvt. Ltd. in JV with IAU ile-de-France and CRISIL Risk and Infrastructure Solutions Limited as a consultant for feasibility study of BMEC.

• The consultant has submitted the Perspective Plan Report of BMEC region. Government of Karnataka has identified Dharwad as the first industrial node in Karnataka under the BMEC. Government of Maharashtra has shortlisted Sangli and as potential nodes in the State. - 22 -

30 ibid

Infrastructure Projects Financing Mapping

East Coast Economic Corridor (ECEC) –

India’s first coastal corridor ECEC would pursue port-based industrial development along the eastern coastal belt of India, in sync with the goals of the Sagarmala initiative, and integration of India’s industrial clusters with value chains extending to Southeast Asia and East Asia. ECEC is also critical to India’s Act East Policy, which focuses on connectivity agreements in South Asia and Southeast Asia such as the Bangladesh–Bhutan–India– Motor Vehicles Agreement (BBIN MVA) and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). ECEC will be integrated with existing infrastructure development and upgradation initiatives at its starting and end points, Kolkata and Tuticorin, respectively, which are already part of the highway development program. It is approximately 2,500 kms long and includes seven non-captive operational ports and two other major ports being planned for development. Most of the key nodes of this corridor are connected by the Kolkata – Chennai rail route.

Vizag–Chennai Industrial Corridor (VCIC) is a part of ECEC and is approximately in the middle of it, covering about 800 kilometers. VCIC includes several port clusters as well as major industrial clusters that are home to the following industries: metallurgical and

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Infrastructure Projects Financing Mapping

chemicals, coal, heavy engineering, textiles, automobiles, electronics, and information technology (IT) and IT-enabled services.31

Visakhapatnam-Chennai Industrial Corridor (VCIC)

• Action in respect of Re-organisation of has been completed as the Conceptual Development Plan (COP) in respect of VCIC was submitted by the ADB in December 2014 as part of East Coast Economic Corridor. ADB has identified four nodes Vishakhapatnam, , Gannavaram-Kankipadu, and Srikalahasti- Yerpedu of Andhra Pradesh for development.

• The Draft Final Report on Regional Perspective Planning (RPP), was submitted to the Government of Andhra Pradesh (GoAP) in February 2016 by ADB.

• Master planning of all four nodes as identified by ADB in their COP commenced on March 21, 2016. It was likely to be completed by March 2017.32

31 Development of East Coast Economic Corridor And Vizag–Chennai Industrial Corridor: Critical - 24 - Issues of Connectivity and logistics by Pritam Banerjee, Source URL - https://www.adb.org/sites/default/files/publication/225626/sawp-050.pdf

Infrastructure Projects Financing Mapping

Chennai-Bengaluru Industrial Corridor (CBIC)

• CBIC project was initiated in December 2011 by the then governments of India and Japan to improve the infrastructure. The 560 km corridor between Chennai- Bengaluru-Chitradurga will have an influence area spread across the states of Karnataka, Andhra Pradesh and Tamil Nadu. • CBIC, like the DMIC, is also being partly funded by the JBIC and Japan International Cooperation Agency (JICA). As DMIC was a greenfield project, it ran into several hurdles, especially land acquisition issues. With the experience gained from the execution of the DMIC, CBIC is expected to move and more smoothly at a much faster pace. • JICA submitted its first interim report on the Master Plan (2013-2033) for CBIC in December 2013. The Master Plan study was in continuation of the preliminary study submitted by JICA in December 2012. The report has identified 26 priority projects across various sectors along with various infrastructure and policy impediments that affect investments in the region.

- 25 - 32 Make In India, Industrial Corridor, source URL: http://www.makeinindia.com/live-projects- industrial-corridor/

Infrastructure Projects Financing Mapping

• Phase-I of the corridor will extend up to Bengaluru from Chennai, and it will later be extended to Andhra Pradesh.33

• Three Nodes, namely Tumkur in Karnataka, Krishnapatnam in Andhra Pradesh and Ponneri in Tamil Nadu, were identified for development as industrial cities.

• DMICDC has been designated as the nodal agency to take over the project work of the CBIC region. The Environment Impact Assessment (EIA) Consultants are being appointed by them for undertaking EIA studies.

• Selection of Consultants for Detailed Master Planning and Preliminary Engineering for Poneri Node in Tamil Nadu and Krishnapatnam Node in Andhra Pradesh is in progress.

• The draft of Shareholders Agreement (SHA) and the State Support Agreement (SSA) has been shared with State Governments. Institutional structure for Ponneri node in Tamil Nadu and Krishnapatnam node in Andhra Pradesh is being finalised.34

33 Projects Today, India’s Upcoming Industrial Corridors, source URL: projectstoday.com/WeekAtGlance/Indias-Upcoming-Industrial-Corridors - 26 - 34 Make In India, Industrial Corridor, source URL: http://www.makeinindia.com/live-projects- industrial-corridor/

Infrastructure Projects Financing Mapping

Nagpur Mumbai Samruddhi Mahamarg

The – Mumbai Samruddhi Mahamarg is a 700 km super expressway connecting the two capital cities of Maharashtra. The expressway will pass through ten districts, namely Nagpur, Wardha, Amravati, Washim, Buldhana, , Jalna, Ahmednagar, and . It will connect Nagpur to Mumbai and have direct connectivity with the country’s largest container port – JNPT and MIHAN. Inter-connecting highways and feeder roads would be constructed to connect all important cities and tourist places along this route. It would also connect another fourteen districts, namely Chandrapur, Bhandara, Gondia, Gadchiroli, Yavatmal, Akola, Hingoli, Parbhani, Nanded, Beed, , Jalgaon, Palghar and Raigad. In this manner, a total of twenty-four districts in Maharashtra will be connected via this expressway.

It will connect several industrial areas, the Delhi - Mumbai Industrial Mahamarg (DMIC), the Western Dedicated Freight Mahamarg (WDFC), dry ports of Wardha and Jalna and Mumbai’s JNPT. The entry and exit at the expressway will be managed and toll will be charged based on the distance travelled. The toll collection is proposed to be automated. The total project cost is estimated at Rs 46,000 crores. - 27 -

Infrastructure Projects Financing Mapping

Twenty plus new towns (Krishi Samruddhi Kendra), equipped with modern amenities, agro- based industries and a commercial hub will be developed along the Mahamarg. The land required will be pooled from landowners by using a special scheme - the land pooling scheme. The proposed Krushi Samruddhi Kendra will also be developed under the same scheme. The land required for the project is estimated at 9,900 hectares for both the expressway and Krishi Samruddhi Kendras.

Maharashtra State Road Development Corporation (MSRDC) will be the implementing agency for this project. MSRDC will act as the New Town Development Authority (NTDA) for the development of Krushi Samruddhi Kendra (new towns) that will be developed along the expressway. 16 Qualified Contractors’ names have been declared for commencing the work on 16 packages for Maharashtra Samruddhi Mahamarg, thereby providing momentum for the project.35

It has also been reported that - Asian Infrastructure Investment Bank (AIIB) will be lending Rs 3,500 crore for the 702 km long Mumbai-Nagpur Samruddhi corridor to the implementing agency MSRDC after an in-principle approval from AIIB. MSRDC will pay an interest of nine percent on the loan.

MSRDC will be spending Rs 28,000 crore on construction work, of which Rs 8,000 crore will be lent by the State Bank of India. The other banks that will be investing in the project are Punjab National Bank, Canara Bank, Bank of India, Union Bank of India, Andhra Bank, Corporation Bank, Indian Bank, Housing and Urban Development Corporation (HUDCO), Indian Infrastructure Finance Company (IIFCL) and Dena Bank, among others. Out of the total cost 49 percent is going to be raised by equity. MSRDC has raised Rs 5,500 crore equity from state government agencies and it has chipped in Rs 2,500 crore. It will also be getting funding from the state for about Rs 7,000 crore as and when required.36

35 Maharashtra Samruddhi Mahamarg, Source URL - mahasamruddhimahamarg.com/expressway - 28 - 36 AIIB to lend Rs 3,500 cr for Mumbai-Nagpur Samruddhi corridor, Source URL - projectstoday.com/News/AIIB-to-lend-Rs-3500-cr-for-Mumbai-Nagpur-Samruddhi-corridor

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Railway Dedicated Freight Corridors

Dedicated Freight Corridor Corporation of India Limited (DFCCIL) website notes that – “the Indian Railways' linking of the four metropolitan cities of Delhi, Mumbai, Chennai and Howrah, commonly known as the Golden Quadrilateral, and its two diagonals (Delhi- Chennai and Mumbai-Howrah), has a total route length of 10,122 km. This forms 16 per cent of the total route covered by the railways, carries over 52 of the passenger traffic, and generates 58 per cent of revenue from freight traffic. The existing trunk routes of Howrah- Delhi on the Eastern Corridor and Mumbai-Delhi on the Western Corridor were highly saturated with line capacity utilisation ranging from 115-150 per cent. Railways lost the share in freight traffic from 83 per cent in 1950-51 to 35 per cent in 2011-12.” “The rapid growth of the Indian economy has created demand for additional capacity of rail freight transportation, and this is likely to grow. This burgeoning demand led to the conception of the dedicated freight corridors along the Eastern and Western Routes in 2005”.

“In April 2005, the Project was discussed at the Japan-India Summit Meeting. It was included in the declaration of cooperation signed, which mentioned a feasibility study and possible funding to the dedicated rail freight corridors by the Japanese Government. The feasibility study report was submitted to the Ministry of Railways in October 2007”.

“Meanwhile, the Ministry of Railways initiated the process to establish an SPV for construction, operation and maintenance of the dedicated freight corridors. This led to the establishment of Dedicated Freight Corridor Corporation of India Limited (DFCCIL) to undertake planning and development, mobilisation of financial resources and construction, maintenance and operation of the dedicated freight corridors. DFCC was incorporated as a company under the Companies Act 1956 on October 30, 200637.

Eastern Dedicated Freight Corridor

DFCCIL states that – “Eastern Dedicated Freight Corridor with a route length of 1856 km consists of two distinct segments: an electrified double-track segment of 1409 km between Dankuni in West Bengal and Khurja in Uttar Pradesh, and an electrified single-track segment of 447 km between (Dhandarikalan)-Khurja-Dadri in the state of Punjab, Haryana

- 30 - 37 Dedicated Freight Corridor Corporation of India Ltd., About Us, Source URL - http://dfccil.gov.in/dfccil_app/About_Us

Infrastructure Projects Financing Mapping

and Uttar Pradesh respectively. Due to the non-availability of space on existing corridor, particularly near important city centers and industrial townships, the alignment of the corridor takes a detour to bypass densely populated towns like Mughalsarai, , , Etawah, Ferozabad, Tundla, Barhan, Hathras, , Hapur, , , , Rajpura, Sirhind, Doraha and Sanehwal”.

“Since the origin and destinations of traffic do not necessarily fall on the DFC, a number of junction arrangements have been planned to transfer traffic from the existing Indian Railway Corridor to the DFC and vice versa. These include Dankuni, Andal, Gomoh, Sonnagar, Ganjkhwaja, Mughalsarai, Jeonathpur, Naini/Cheoki, Prempur, Bhaupur, Tundla, Daudkhan, Khurja, Kalanaur, Rajpura, Sirhind and Dhandarikalan. The Eastern Corridor will traverse through 6 states”.38

Annexure 3 gives the States Traversed by Eastern DFC, Goods carried and Traffic Projections.

- 31 - 38 Dedicated Freight Corridor Corporation of India Ltd., Eastern Dedicated Freight Corridor, Source URL - http://dfccil.gov.in/dfccil_app/Eastern_Corridor

Infrastructure Projects Financing Mapping

Western Dedicated Freight Corridor

Similarly for the Western Dedicated Freight Corridor DFCCIL notes that – “it covers a distance of 1504 km of double line electric (2x25 KV) track from Trust (JNPT) to Dadri via -Ahmedabad-Palanpur-Phulera-Rewari. Alignment has been generally kept parallel to existing lines except for detour at Diva, , Ankleshwar, , Vadodara, Anand, Ahmedabad, Palanpur, Phulera and Rewari”.39

Annexure 4 gives the States Traversed by Western DFC, Goods carried and Traffic Projections.

- 32 - 39 Dedicated Freight Corridor Corporation of India Ltd., Western Dedicated Freight Corridor, Source URL - http://dfccil.gov.in/dfccil_app/Western_Corridor

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Project Funding for DFC

DFCCIL states that – “The cost estimate of Rs, 81,459 Crores for Eastern and Western DFC, including land cost, has been approved by the Cabinet Committee on Economic Affairs (CCEA) in June 2015. This comprises a construction cost of Rs. 73,392 Crores, (including Soft Cost of Rs. 19,390 Crores), and land cost of Rs. 8067 Crores. The cost for the project will be funded by a combination of debt from bilateral/multilateral agencies, equity from Ministry of Railways and PPP. The capital structure of DFCCIL will entail a debt-equity ratio of 3:1”.

Eastern Dedicated Freight Corridor

“Eastern DFC is being executed in a phased manner with funding from the following sources:

1. Funding from the WB for Ludhiana-Mughalsarai section (1192 Kms) in the following tranches: a. EDFC-1 for Khurja- Kanpur and Khurja-Dadri section: Loan Agreement for USD - 33 - 975 million signed in October 2011.

Infrastructure Projects Financing Mapping

b. EDFC-2 for Kanpur-Mughalsarai section: Loan Agreement for USD 1100 million signed in December 2014. c. EDFC-3 for Khurja-Ludhiana section: Loan for USD 650 million sanctioned in June 2015. 2. Equity funding of Rs. 3679 Crores from Ministry of Railways for Mughalsarai-Sonnagar section (126 Kms). 3. PPP for Sonnagar-Dankuni section (538 Kms)”.

Western Dedicated Freight Corridor

“Western Corridor is being funded through JP¥ 645 billion loan from JICA in two phases. This also includes the cost of 200 locomotives (9000 hp) to be procured by Ministry of Railways. The status of the loan is as follows:

a) Phase-I Rewari-Vadodara (947 Kms): Loan of 349 billion JP¥. b) Phase-II Vadodara-JNPT (430 Kms)-Loan of 296 Billion JP¥.

This corridor is funded with JICA funding estimated at JP¥ 645 billion (Phase- I- JP¥ 349 billion, Phase II-JP¥ 296 billion). Status of loan is as follows: a) Phase-I: (Rewari-Vadodara) 1. First tranche of 90.262 billion JP¥ (approx Rs. 4718 crores) of the Main Loan (349.618 billion JP¥) signed on March 31, 2010.

2. Loan for consultancy contract for 2.606 Billion JP¥ (Rs 136.23 crores) signed on October 27, 2009. b) Phase- II Vadodara-JNPT and Rewari-Dadri: Loan of 296 billion JP¥.

1. The first tranche of 136.12 Billion JP¥ (approx. Rs. 7115 crores) of the main loan (295.555 billion JP¥) signed on March 28, 2013. 2. Loan for consultancy contract for 1.616 JP¥ (Rs 84.47 crores) signed on July 26, 2010.

The loan from JICA is a tied loan under STEP conditions of procurement”. 40

It has also been reported that – “The project will be financed in a 2:1 debt-equity ratio. About 67 per cent of the construction costs of the Western DFC will be funded by a soft loan of USD 4 billion from JICA. The remaining funds will be provided in equity by the Ministry of

- 34 - 40 Dedicated Freight Corridor Corporation of India Ltd., Project Funding, Source URL - http://dfccil.gov.in/dfccil_app/Project_Funding

Infrastructure Projects Financing Mapping

Railways. The Eastern DFC will be constructed through the funds received from the WB and ADB”.

“The WB will finance the 725 km section between Khurja and Mughalsarai while the remaining portion between Ludhiana and Khurja will be funded by a loan from the ADB and the Ministry of Railways”.41

Inland Waterways

Inland Waterways Authority of India (IWAI) annual report states that – “the need for the systematic development of Inland Water Transport (IWT) sector was always felt which is evident from the fact that post-independence, several Committees studied IWT system and advocated systematic development of the mode. National Transport Policy Committee, in its report (1980), recommended setting up of an Authority for development and regulation of inland waterways, which led to the formation of Inland Waterways Authority of India (IWAI) in 1986 for the development and regulation of inland waterways”.

“IWAI undertakes infrastructure development and maintenance works on National Waterways. It also takes up techno-economic feasibility studies and prepares proposals for the declaration of other waterways as National Waterways. It also advises the Central Government on matters related to IWT and assists States in developing the IWT sector”.42

The website of Water Resources Information System mentions that – “as per constitutional provisions, only those waterways which are declared as National Waterways come under the purview of Central Government. The rest of waterways remain in the purview of the respective state governments. Since the formation of IWAI, following five waterways have been declared as National Waterways:

• Ganga • Brahmaputra • West Coast Canal with Udyogmandal and Champakara Canals • Kakinada-Puducherry Canals system along with Godavari and Krishna rivers • East Coast Canal with Brahmani river and Mahanadi delta.

41 Railway Technology, Dedicated Freight Corridor Project, source URL: https://www.railway- technology.com/projects/dedicatedrailfreight/ - 35 - 42 Inland Waterways Authority of India (IWAI), Annual Report (2008 – 09), Source URL - http://iwai.npglobal.in/sites/default/files/2008%20-%202009%28English%29%20.pdf

Infrastructure Projects Financing Mapping

• The waterway on Barak river is under consideration of the Central Government for the declaration as a National Waterways”.43

WRIS also notes that – “The National Transport Policy Committee (1980) recommended the following principles for the declaration of a national waterway.

• It should possess the capability of navigation by mechanically propelled vessels of a reasonable size. • It should have about 45 mts wide channel and a minimum 1.5 mts depth. • It should be a continuous stretch of 50 kms. The only exception to be made to waterway length is for urban conglomerations and intra-port traffic. • It should pass through and serve the interest of more than one State (or). • It should connect a vast and prosperous hinterland and Major Ports (or). • It should pass through a strategic region where development of navigation is considered necessary to provide logistic support for national security (or). • It should connect places not served by any other modes of transport.

The National Transport Policy Committee considered the following waterways as having the potential for declaration as national waterway:

• Sunderbans • Mahanadi • Narmada • Mandovi, Zuari rivers, and Cumberjua Canal in • Tapi

Hydrographic surveys and techno-economic feasibility studies are the prerequisites for establishing the potential and viability of a waterway. Extensive surveys and investigations have been carried out on all the above waterways based on which Ganga, Brahmaputra, and the West Coast Canal have been declared as national waterways”44.

Development of National Waterways

IWAI report further elaborates that – “Three basic IWT-related infrastructure for the development of waterways are:

43 India- WRIS, Water Resources Information System of India, Inland Waterways, source URL: - 36 - http://59.179.19.250/wrpinfo/index.php?title=Inland_Waterways 44 Ibid

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1. Fairway or navigational channel with desired width and depth. 2. Navigational aids for safe navigation 3. Terminals for berthing of vessels, loading/unloading of cargo, and for providing the interface with road and rail.

The fourth component for operationalising a viable IWT system is 'inland vessels' for the transportation of goods and passengers. It is envisaged that once the fairway, terminals and navigational aids are provided to a threshold level, private sector investment, dictated by market forces, in inland vessels will increase the inland fleet. Various projects for providing/maintaining fairway, terminals and navigational aids are being executed on National Waterways”.45For a detailed analysis of national waterways please see – “National Inland Waterways in India A Strategic Status Report” by Manthan Adhyayan Kendra and Sruti.46

Annexure 5 provides the details of the Declared and identified National Waterways.

Financing National Waterways

The WB is financing the development of the Ganga waterway with a loan of USD 375 million. The Capacity Augmentation of National Waterway-1 Project will help put in place the infrastructure and services needed to ensure that NW1 emerges as an efficient transport artery in this important economic region.47

IFC is also providing advisory services to IWAI for developing the viability and possible options for a PPP arrangement for the development, equipping and operation of a terminal at Kolkata.

The central government in 2016-17 announced Mobilisation of Extra Budgetary Resources through the issuance of Bonds. The bonds for IWAI were for Development of Inland

45 Inland Waterways Authority of India (IWAI), Annual Report (2008 – 09), Source URL - http://iwai.npglobal.in/sites/default/files/2008%20-%202009%28English%29%20.pdf 46 Manthan India, National Inland Waterways of India, A Strategic Status Report, source URL: https://www.manthan-india.org/wp-content/uploads/2018/04/Strategic-Status-Report-on-Inland- Waterways-V5-26-Apr-17-FINAL.pdf - 37 - 47 The World Bank, Developing India’s First Modern Inland Waterway, source URL: http://www.worldbank.org/en/country/india/brief/developing-india-first-modern-inland-waterway

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Waterways and Shipping Infrastructure.48 The IWAI website details the budgetary support by the central government to develop inland waterways.49

Bharatmala Pariyojana

Bharatmala Pariyojana is an umbrella program for the highways sector that focuses on optimising efficiency of the freight and passenger movement across the country by bridging critical infrastructure gaps through effective interventions like development of Economic Corridors, Inter Corridors and Feeder Routes, National Corridor Efficiency Improvement,

48 Inland Waterways Authority of India, Events for Mobilization of Extra Budgetary Resources through issuance of Bonds, source URL: http://www.iwai.nic.in/showfile.php?lid=994 - 38 - 49 Inland Waterways Authority of India, Details of Grant and Expenditure, source URL: http://www.iwai.nic.in/grant_details.php

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Border and International connectivity roads, Coastal and Port connectivity roads and Green- field expressways.

Key Highlights of the Program

• Improvement in the efficiency of existing corridors through the development of Multimodal Logistics Parks and elimination of chokepoint • Enhance focus on improving connectivity in North-East and leveraging synergies with Inland Waterways • Emphasis on the use of technology and scientific planning for the Project Preparation and Asset Monitoring • Delegation of powers to expedite project delivery - Phase I to complete by 2022 • Improving connectivity in the North-East50

Key features of the scheme

• Improving the quality of roads: The launch of the scheme has been done to bring a new wave of development in the form of well-maintained and developed roads. Under this project, the construction of roads, in all parts of the nation, will be undertaken. • Road construction: As per the draft of the scheme, government and the ministry will strive to complete new roads, which will add up to a whopping 34,800 kms. • Integrated scheme: The Bharatmala is the name that is given to the road development, and it will include many other related schemes as well. With the completion of all the schemes, the overall success of the scheme will be guaranteed. • Total tenure of the program: The central government intends to finish the first phase before the end of 2022. • Segmentation in phases: Due to the sheer magnitude and spread of the scheme, it will be divided into seven phases. As of now, the first phase in under construction. • Constriction on a daily basis: To finish the first phase in time, the respective department has made efforts in constructing at least 18 km of the path on a daily basis. To meet deadlines, continued efforts are being made to raise it to 30 km/day.

- 39 - 50 National Portal of India, Bharatmala Pariyojna, source URL: https://www.india.gov.in/spotlight/bharatmala-pariyojana-stepping-stone-towards-new-india

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• Different categories of road construction: It has been highlighted in the official draft of the scheme that to provide better connectivity, the construction of various categories of roads will be undertaken. • Multi-source of finding: One source will not be enough for funding a mammoth project. Thus, the government will have to depend on other sources.51

Bharatmala Pariyojana Project Category

• Economic Corridor: As per the guidelines of the road construction project, the construction of 9000 kms of Economic Corridors will be undertaken by the central government. • Feeder Route or Inter Corridor The total length of the roads, which fall under the Feeder Route or Inter Corridor category is 6000 kms. • National Corridor Efficiency Improvement: 5000 kms of roads, constructed under the scheme will fall in the category of National Corridor for the better connection between roads. • Border Road and International Connectivity: Connecting the cities and remote areas, which are situated in the border regions, the project has kept provision for constructing 2000 kms roads. • Port Connectivity and Coastal Road: To connect the areas that are dotted along the shorelines and important ports, the central government has ordered the construction of 2000 km of roads. • Green Field Expressway - The stress will be given on the construction and development of Green Field Expressway for the better management of traffic and freight. • Balance National Highways Development Project (NHDP) Works - Under the last segment, the project will see construction and maintenance of about 10,000 kms of new roads.52

Budget Allocation

A total of around 24,800 kms are being considered in Phase I of Bharatmala. Additionally, Bharatmala Pariyojana phase -I also includes 10,000 kms of balance road works under

- 40 - 51 Ibid 52 Ibid

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NHDP, taking the total to 34,800 kms at an estimated cost of Rs.5,35,000 crore. Bharatmala Phase I will be implemented during 2017-18 to 2021-22.53

- 41 -

53 Ibid

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Sagarmala Programme

A Ministry of Shipping report states – “Sagarmala is an ambitious national initiative aimed at bringing a change in India’s logistics sector performance, by unlocking the full potential of India’s coastline and waterways. The vision of Sagarmala is to reduce logistics cost for both domestic and EXIM cargo with optimised infrastructure investment. Sagarmala aspires to overall cost savings of Rs 35,000-40,000 crores per annum”.

“These cost savings apply to current industrial capacities as well as future coast proximate capacities for energy, material, marine and discrete industries that could come up through port-linked industrialisation.

“The concept of port-led development is central to the Sagarmala vision. Port-led development focuses on logistics-intensive industries, where transportation either represents a high proportion of costs, or timely logistics are a critical success factor. These industries can structurally be competitive if developed proximate to coast/waterways. They would be supported by efficient and modern port infrastructure and seamless multi-modal connectivity. The synergistic and coordinated development of logistics-intensive industries, efficient ports, seamless connectivity and requisite skill-base leads to unlocking of the economic value”.54

Sagarmala Programme website it gives components as:

• “Port Modernisation and New Port Development: De-bottlenecking and capacity expansion of existing ports and development of new greenfield ports • Port Connectivity Enhancement: Enhancing the connectivity of the ports to the hinterland, optimising cost and time of cargo movement through multi-modal logistics solutions including domestic waterways (inland water transport and coastal shipping) • Port-linked Industrialisation: Developing port-proximate industrial clusters and Coastal Economic Zones to reduce logistics cost and time of EXIM and domestic cargo

- 42 - 54 Ministry of Shipping, Sagarmala “Ports to Prosperity” The Big Picture, 2016, Source URL - http://sagarmala.gov.in/sites/default/files/Sagarmala_the_Big_Picture.pdf

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• Coastal Community Development: Promoting sustainable development of coastal communities through skill development and livelihood generation activities, fisheries development, coastal tourism etc”.55

The vision of the Sagarmala is to reduce logistics cost for EXIM and domestic trade with minimal infrastructure investment. This includes:

• “Reducing the cost of transporting domestic cargo through optimising the modal mix • Lowering logistics cost of bulk commodities by locating future industrial capacities near the coast • Improving export competitiveness by developing port proximate discrete manufacturing clusters • Optimising time/cost of EXIM container movement”.56

The mission of the programme states that – “Sagarmala is the flagship project of the Ministry of Shipping (MoS) to promote port-led development through harnessing India's 7500 km long coastline, 14500 km of potentially navigable waterways and strategic location on key international maritime trade routes. Sagarmala’s vision can have a potentially transformative impact on India’s logistics competitiveness and the wider economy”.57

55 Government of India, Ministry of Shipping, About SagarMala, Vision, Source URL - sagarmala.gov.in/about-sagarmala/vision 56 Ibid - 43 - 57 Government of India, Ministry of Shipping, About SagarMala, Mission, source URL: sagarmala.gov.in/about-sagarmala/mission

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Moving ahead with the Sagarmala Programme, a National Perspective Plan (NPP) was prepared by Mckinsey and Company in consortium with AECOM for the MoS. The plan was submitted to the ministry on November 2016. The report submitted by the consultants is in 6 volumes.58

Sagarmala Development Company Limited (SDCL)

SDCL was – “incorporated on August 31, 2016, under the Companies Act, 2013. It was established under the administrative control of MoS with an initial authorised share capital of Rs. 1,000 Crore and a subscribed share capital of Rs. 250 Crore. SDCL will provide equity support for the project SPVs set up by the Ports / State / Central Ministries and funding window and/or implement only those residual projects which cannot be funded by any other means/mode.

Objectives of SDCL are -

• Develop and formulate projects emanating from the NPP • Assist project SPVs set up by Central Line Ministries/State Governments/State Maritime Boards/Ports etc. for projects in alignment with Sagarmala objectives - 44 - 58 Government of India, Ministry of Shipping, About SagarMala, National Perspective Plans, source URL: http://www.sagarmala.gov.in/about-sagarmala/national-perspective-plans

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• Provide a funding window for residual projects that cannot be funded by any other means/mode • Prepare the Detailed Master Plans for the Coastal Economic Zones (CEZs) identified as part of the NPP • Raise funds from multilateral and bilateral agencies as debt/equity (as long-term capital).”59

Indian Port Rail Corporation Limited (IPRCL)

IPRC, an SPV is incorporated under the Companies Act 2013, under the administrative control of the MoS to execute the last mile connectivity, rail connectivity and internal rail projects of the major ports more effectively.

IPRCL has – “90 per cent of the paid-up equity of the company has been provided by the 11 Major Ports and 10 per cent by the Rail Vikas Nigam Limited (RVNL). The authorised capital of the company is Rs. 500 Crore and paid-up capital are Rs. 100 Crore. It is also proposed that IPRCL may raise funding from multilateral/bilateral agencies and other financial institutions in future.

The work of the SPV will result in a substantial reduction in dwell time of cargo at ports and reduce the overall logistics cost for trade.

IPRCL has already undertaken 32 Projects costing around Rs.18,233 Crores.”60

Financing Plan

The Final Report for Sagarmala (Vol. III) includes the Report on Government Imperatives Including Financing Plan submitted by the consultants in August 2016 lays the roadmap of the financing plan for Sagarmala61.

59 Government of India, Ministry of Shipping, About SagarMala, Sagarmala Development Company Limited, Source URL - http://www.sagarmala.gov.in/about-sagarmala/sagarmala-development- company-limited-sdcl 60 Government of India, Ministry of Shipping, About SagarMala, Indian Port Rail Corporation (IPRC) , source URL - http://www.sagarmala.gov.in/about-sagarmala/indian-port-rail-corporation- limited-iprcl 61 Government of India, Ministry of Shipping, Final Report for Sagarmala (Vol. III), Source URL - - 45 - http://www.sagarmala.gov.in/sites/default/files/20161222_Sagarmala_final%20report_volume%2003 _0.pdf

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The report outlines the following recommendations:

1. “Cost-effective funding plan for projects under the NPP.

Around 398 projects, including projects under construction, have been identified under the Sagarmala for port-led development. They require an investment of Rs 7.7 lakh crores. Out of the 398 projects, 120 projects are under implementation, and 85 projects will be taken up only after FY 20. Thus, financing for ~198 projects worth Rs 331,534 crores needs to be identified. The breakup of the funding needs is as follows:

■ Around 75 road projects, worth Rs 150,000-175,000 crores will be primarily funded on a 50 per cent basis by the National Highways Authority of India (NHAI)

■ Rs 35,000-50,000 crores will be required for 44 rail projects

■ Rs 4,500-6,000 crores is the estimated for a heavy-haul railways corridor from Talcher to Paradip Port, which would be implemented using non-government railway model.

■ Development of new ports, such as Paradip outer harbour, Wadhwan, Sagar and Enayam, is estimated to cost Rs 25,000-35,000 crores. These could be implemented using the landlord model.

While multiple agencies would ownership of the projects as per their purview, major ports could choose to explore and leverage alternative financing tools and their lower interest rates. These include dollar-denominated loans and financing from development banks.

Globally, dollar-denominated loans are a commonly used phenomenon, but in India only the JNPT has used these. Similarly, development banks such as the WB, ADB and China EXIM Bank provide funding—loans as well as grants—for developing infrastructure related to ports. Both these forms of finance can be much cheaper (1.5 to 2.5 per cent) compared to 12 per cent of domestic market loans or capital markets”. 62

2. “A robust environment for PPPs: Lessons and recommendations.

While PPPs have driven a lot of activity in the ports sector, the ecosystem is still nascent. Various challenges along the project lifecycle have meant that of the planned 91 projects, only 35 have been completed, 27 are under construction, the remaining 27 are in the pipeline, and two projects have been terminated. Certain shifts are necessary to develop a conducive ecosystem, such as: - 46 -

62 Ibid

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■ Providing flexibility in reviewing the cargo to be handled

■ Exploring traffic risk taken out of developer scope, e.g., Hybrid Annuity Model used in highways

■ Ensuring the modification of selection processes and opt for good-quality consultants, e.g., QCBs, TI

■ Checking that land and other key clearances are in place before award of contract, e.g., environmental clearances

■ For projects dependent on external connectivity, exploring the option of conversion to PPP after the project is in place

■ Reviewing TAMP and exploring options for mitigation to common light-touch regulatory regime”.63

3. “Transparent business-friendly and stable regulations policy.

Efficient logistics for the evacuation of cargo require plugging some regulatory and process gaps. For example, the taxes levied on coastal shipping make it around 30 per cent costlier than comparable shipping costs in other countries.

Similarly, the time taken for customs processes can vary widely compared to best-in-class examples like China. This increases storage time, necessitates more planning for the cargo receiver and shipper, and translates into higher inventory-holding costs. These issues could be addressed in the following manner:

■ To maximise the potential of coastal shipping, bunkering and service taxes levied on coastal shipping need to be moderated

■ Customs processes need to reduce manual intervention and specify separate scrutiny and clearances for EXIM and coastal cargo

■ Coastal Regulations Zones (CRZs) should be made separately for the East and West coast, taking into account the different topography and tidal cycles, with flexibility on exemptions and exceptions on a special case basis

■ The port-land allocation policy is recommended to shift from an H1 model (highest bidder) to an integrated development—the lease price can be benchmarked with the nearest

- 47 -

63 Ibid

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industrial development zone, giving weightage to the contribution to throughput, the investments made and the employment generation potential”.64

4. “An enabling environment to attract investors for port-led development projects.

Ports play a crucial role in reducing domestic logistics costs and facilitating EXIM-oriented manufacturing by reducing logistics time and variability. China is a best-in-class example of such an approach. While industrial zone development has been a prevailing concept in India, greenfield industrial zones (e.g., SEZs, FTZs) have not been as successful as traditional industrial agglomerations. After reviewing past initiatives, the proposed industrial unit locations were mapped to the relevant major and non-major ports in the region to facilitate the movement of their cargo optimally. Reducing overall logistics cost has been the overarching rationale for shortlisting industries and locations for port-led industrialisation”.65

5. “Setting up the right institutional structure.

The Sagarmala Programme consists of a diverse set of projects and initiatives with multiple stakeholders at the state and central level. Key enablers for delivering such a programme consist of the governance framework, institutional set-up and financing plan, including PPPs. It is, therefore, suggested:

■ The coastal economic zones (CEZs) programme should be spearheaded by the National Industrial Corridor Development Authority.

■ Promoting ease of doing business should be a priority. This calls for changes in policies for compliance, streamlining trade clearance processes, ensuring implementation through a risk- based model, and appointing a Secretary-level empowered Nodal Officer for the top five investment sources/industries.

■ A marketing cell, dedicated to marketing industrial and infrastructure projects, should be created within the ambit of the MoS. It can initially operate with a lean team and work through a geography-based model. An external marketing consultant can be brought onboard on a retainer basis to create a roadshow and branding theme for the programme”.66

64 Ibid - 48 - 65 Ibid 66 Ibid

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6. “Business plan for the Sagarmala Development Company (SDC).

There is a proposal to create SDC under the ambit of the Sagarmala project to fast-track its objectives and implementation. The SDC would be under the administrative control of the MoS, which will monitor the implementation of projects identified under the NPP and provide experts in the field of technical, financial and project restructuring to various stakeholders, including partner states and maritime boards. The SDC’s aim would be to:

■ Create a roadmap of projects identified through the NPP and prepare a coherent development strategy for the ports sector in India

■ Augment capacity to cater to increased cargo traffic at the ports through improved efficiency, mechanisation and new terminals, and by building six to eight greenfield ports

■ Liaise with various central line ministries to facilitate effective administrative coordination and ensure all identified projects are completed in a time-bound manner

■ Complete all residual projects in the minimum time period by involving the SDC. The company would be led by an MD/CEO on deputation or hired externally. Keeping in mind its mandate, it will comprise four teams: Finance, Strategy, Business Development, and the Project Management Unit”.67

Projects under Sagarmala Programme

The project tracker on Sagarmala website gives a list of 601 projects being implemented under the program.68 A number of projects are being implemented under various components like Port Modernisation and New Port Development, Port Connectivity Enhancement, Port-led Industrialisation, and Coastal Community Development.

67 Ibid - 49 - 68 Government of India, Ministry of Shipping, About SagarMala, Projects Under Sagarmala , source URL: http://www.sagarmala.gov.in/projects/projects-under-sagarmala

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Projects under Implementation and Development

As 30 September-2018, a total of 522 projects were under various stages of implementation, development and completion:

Status as on 30 September 2018

Sr.No Project Status Total Projects Project by MoS

# Cost (Rs. Cr) # Cost (Rs. Cr)

1 Completed 93 14,997 76 9,802

2 Under Implementation 161 237,980 101 67,175

3 Under Development 268 179,517 128 86,479

Total Completed/Under Implementation 522 432,494 307 163,456

For a detailed analysis of Sagaramala Programme, please see – Occupation of the Coast Blue Economy In India published by Programme for Social Action.69

Annexure 6 - Details of projects implemented under Sagarmala Programme including – Port Modernisation and New Port Development, Port Connectivity Enhancement and Port led Industrialisation.

69 Occupation of the Coast, Blue Economy in India, source URL: - 50 - https://static1.squarespace.com/static/559b6c31e4b02802c8b26ce9/t/5a66e0f1652dea88224eba78/15 16691809307/Occupation+of+the+Coast-+Blue+Economy+in+India.pdf

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Annexure 7 - Details of major infrastructure projects supported by some of the IFIs as well as bilateral agencies in India.

- 51 -

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Annexure I – List Of Smart Cities In India State-Wise.

The total number of 100 smart cities has been distributed among the States and UTs on the basis of an equitable criterion. The formula gives equal weightage (50:50) to the urban population of the State/UT and the number of statutory towns in the State/UT.

Number of cities allocated to States based on urban population and number of statutory towns

Sr State/ UT No. of Name of Cities No. Cities

1. A & N Islands 1 1. (Round Fast Track) 2. Andhra Pradesh 4 2. Vishakhapatnam (Round 1) 3. Kakinada (Round 1) 4. (Round 2) 5. Amravati (Round 3) 3. 2 6. (Round 3)

7. (Round 4) 4. 1 8. (Round 1) 5. Bihar 4 9. (Round Fast Track) 10. (Round 3) 11. (Round 3) 12. Biharsharif (Round 4) 6. 1 13. Chandigarh (Round Fast Track) 7. 3 14. (Round Fast Track) 15. (Round 3) 16. Bilaspur (Round 3) 8. Daman & Diu 1 17. Diu (Round 4) 9. Dadra and Nagar 1 18. Silvassa Haveli 10. Delhi 1 19. NDMC (Round 1) 11. Goa 1 20. (Round Fast Track) 12. Gujarat 6 21. Surat (Round 1) 22. Ahmedabad (Round 1) 23. Vadodara (Round 2) 24. (Round 3) 25. (Round 3) 26. (Round 3) 13. Haryana 2 27. (Round Fast Track) 28. (Round 3) 14. 2 29. (Round Fast Track) - 52 - 30. (Round 3)

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15. and Kashmir 2 31. (Round 3) 32. Jammu (Round 3) 16. Jharkhand 1 33. (Round Fast Track) 17. Karnataka 7 34. (Round 1) 35. Belagavi (Round 1) 36. Mangaluru (Round 2) 37. Tumkuru (Round 2) 38. Shivamogga (Round 2) 39. Hubbali Dharwad (Round 2) 40. Bengaluru (Round 3) 18. 2 41. (Round 1) 42. (Round 3) 19. 1 43. (Round 4) 20. Madhya Pradesh 7 44. (Round 1) 45. (Round1) 46. (Round 1) 47. Ujjain (Round 2) 48. (Round 2) 49. Sagar (Round 3) 50. (Round 3) 21. Maharashtra 9 51. Pune (Round 1) 52. Solapur (Round 1) 53. Dombivili (Round 2) 54. Nagpur (Round 2) 55. Thane (Round 2) 56. Nashik (Round 2) 57. Aurangabad (Round 2) 58. Pimpri Chinchwad (Round 3) 22. 1 59. (Round Fast Track) 23. 1 60. (Round 4) 24. 1 61. (Round 3) 25. 1 62. (Round 2) 26. 2 63. Bhubaneshwar (Round1) 64. (Round 2) 27. Puducherry 1 65. Puducherry (Round 3) 28. Punjab 3 66. Ludhiana (Round 1) 67. Amritsar (Round 2) 68. (Round 2) 29. Rajasthan 4 69. (Round 1) 70. (Round 1) 71. Kota (Round 2) 72. (Round 2) 30. 2 73. (Round 2) 74. (Round 3) 31. Tamil Nadu 11 75. (Round 1) 76. Chennai (Round 1) 77. (Round 2) 78. (Round 2) - 53 - 79. (Round 2)

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80. Salem (Round 2) 81. (Round 3) 82. (Round 3) 83. (Round 3) 84. Tiruchirapalli (Round 3) 85. (Round 4) 32. 2 86. Warrangal (Round Fast Track) 87. (Round 3) 33. 1 88. (Round Fast Track) 34. Uttar 10 89. (Round Fast Track) Pradesh 90. (Round 2) 91. Kanpur (Round 2) 92. (Round 2) 93. (Round 3) 94. Allahabad (Round 3) 95. Aligarh (Round 3) 96. (Round 4) 97. (Round 4) 98. Saharanpur (Round 4) 35. Uttarakhand 1 99. (Round 3) 36. West Bengal 1 100.New Town Kolkata (Round Fast Track)

- 54 -

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Annexure II - Projects Proposed Or Implemented Under DMIC70

1. Exhibition cum Convention Centre (ECC) in Dwarka • After approval from the Cabinet, Project Steering Committee has been constituted to steer the project. • M/s AECOM has been appointed as Program Management Consultants to take the various project development activities forward. 2. Airport Projects • Greenfield International Airport is being developed in Dholera, Gujarat. Land measuring 1426 Ha is in possession of the State Government. An SPV Dholera International Airport Company Limited has been incorporated. No Objection Certificate (NOC) received from the Ministry of Defense and ‘In principle’ approval has been granted by the Ministry of Civil Aviation. Environment clearance has also been obtained from the MoEF&CC. M/s Price Waterhouse Coopers has been appointed as the Transaction Advisor(s). • An Aerotropolis Project is also being developed as part of the overall development plan of Khushkhera Bhiwadi Neemrana Investment Region in Rajasthan. The Techno–economic feasibility report has been prepared and has been approved by the State Government. Ministry of Defence issued the NOC for the Aerotropolis project in February 2015, and Site Clearance from Ministry of Civil Aviation (MoCA) has been received in November 2015. The process for the preparation of Detailed Project Report (DPR) has been initiated by DMICDC through the Airport Authority of India (AAI).

Model Solar Project at Neemrana, Rajasthan

• An SPV DMICDC Neemrana Solar Power Limited has been incorporated, and equity has been released to the project SPV. • Lease deed has been executed and Power Purchase Agreement (PPA) for 5 MW plant executed between NTPC Vidyut Vyapar Nigam Ltd. (NVVN) and project SPV. • The project for 5 MW has been commissioned as grid synchronisation of 5 MW Solar power plant is complete and power feeding to the grid has commenced since July

70 Make in India, DMIC, Source URL - http://www.makeinindia.com/live-projects-industrial- - 55 - corridor/

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24, 2015. Commissioning Certificate was issued by NTPC Vidyut Vyapar Nigam Ltd. (NVVN) on September 3, 2015. • PPA between M/s Mikuni India Pvt. Ltd., a Japanese company and M/s DMICDC NSPCL for 1MW has been executed. • Implementation Document (ID) has been executed between M/s DMICDC Limited and M/s Hitachi Limited. • Data Purchase Agreement between M/s Hitachi Limited and M/s DMICDC NSPCL for 1MW Solar has been executed.

DMICDC Logistics Data Services Project

• The Shareholders’ Agreement has been executed, and project SPV DMICDC Logistics Data Services has been incorporated. • Port Operator Agreement had also been executed with JNPT on February 17, 2016. • Operations have been initiated at JNPT Port with effect from July 1, 2016. • 750,000 containers have been tagged/de-tagged till September 30, 2016.

Mass Rapid Transport System (MRTS) Projects

• For the MRTS Project from Gurgaon to Bawal in Haryana, Final DPR has been submitted and approved by the State Government in February 2016. The project is being included in the JICA Special Rolling Plan for DMIC Project. • For MRTS Project between Ahmedabad to Dholera in Gujarat, final DPR has also been prepared and approved by State Government. The project has also been included in the JICA Special Rolling Plan for DMIC Project in February 2015.

Global City Project

• Project SPV has been incorporated between DMIC Trust and State Government. • The project consultants appointed by DMICDC for finalisation of the master plan is taking the study forward in close coordination with the State Government. • Land is in possession of the State Government.

Integrated Multi-Modal Logistics Hub in Haryana

• The land measuring 1000 acres has been identified at villages Talot, Ghatasher and Bashirpur, Tehsil Narnaul, District Mahendergarh.

• The State Cabinet has approved the proposal for acquisition of the land parcel - 56 - through direct negotiations

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• Project SPV has been incorporated between DMIC Trust and State Government. • Consultants for techno-economic feasibility study and master planning have been appointed.

Multi-Modal Logistics Hub and Multi-Modal Transport Hub, Dadri in Uttar Pradesh

• The consultants are being appointed for preparation of DPR. • The state government is under the process of acquiring land. • Discussions have also been initiated with Dedicated Freight Corridor Corporation of India Limited (DFCCIL) to provide connectivity to the site from Western and Eastern DFCs.

- 57 -

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Annexure III – States Traversed By Eastern DFC, Goods Carried And Traffic Projections

DFCCIL website gives the details of Eastern Corridor as – “projected to cater to a number of traffic streams-coal for the power plants in the northern region of U.P., Delhi, Haryana, Punjab and parts of Rajasthan from the Eastern coalfields; finished steel, food grains, cement, fertilisers, limestone from Rajasthan to steel plants in the east and general goods. The total traffic in UP direction is projected to go up to 116 million tonnes in 2021-22. Similarly, in the Down direction, the traffic level has been projected to increase to 28 million tons in 2021-22. As a result, the incremental traffic since 2005-2006, works out to a whopping 92 million tons. A significant part of this increase would get diverted to the DFC. The following table depicts the distance traversed through each state”.

Eastern DFC

States Kms

Punjab 88

Haryana 72

Uttar Pradesh 1058

Bihar 239

Jhardhand 196

West Bengal 203

Total 1856

“It is also proposed to set up Logistics Park at Kanpur, Uttar Pradesh and Ludhiana, Punjab. These parks are proposed to be developed as PPP by creating a sub-SPV for the same. DFCCIL proposes to provide rail connectivity to such parks. The private players would be asked to develop and provide state of the art infrastructure as a common user facility”.71

- 58 - 71 Dedicated Freight Corridor Corporation of India Ltd., Eastern Corridor, Source URL - dfccil.gov.in/dfccil_app/Eastern_Corridor

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The traffic projections on Eastern DFC in million tons/year is given in the following table72

Direction/Commodity 2016-17 2021-22

Up Direction

Power House Coal 54.46 61.96

Public Coal 0.61 0.95

Steel 8.24 9.74

Others 1.61 2.96

Logistic Park 1.20 2.40

Sub-total 66.12 78.01

Down Direction

Fertilizer 0.23 0.42

Cement 0.78 1.52

Limestone for the steel 4.99 5.00 Plants

Salt 0.68 1.03

Others 1.61 2.96

Logistic Park 1.20 2.40

Sub-total 9.48 13.32

Grand Total 75.60 91.33

Rites Report: Table 14.3 of Eastern Corridor PETS Report

- 59 -

72 Ibid

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Annexure IV - States Traversed By Western Dfc, Goods Carried And Traffic Projections

DFCCIL gives details of – “the Western Corridor passes through the following five states:

Western DFC

States Kms

Haryana 177

Rajasthan 567

Gujarat 565

Maharashtra 177

Uttar Pradesh 18

Total 1504

However, it is entirely on a new alignment from Rewari to Dadri. The Western DFC is proposed to join Eastern Corridor at Dadri. Junction Stations between the existing railway system and the Western DFC have been provided at Vasai Road, Kosad/Gothangam, Makarpura (Vadodara), Amli Road (Sabarmati), Palanpur, Marwar Jn., Phulera, Rewari and Pirthala Road”.73

Traffic Projections for Western Corridor “The traffic on the Western Corridor mainly comprises of ISO containers from JNPT and Mumbai Port in Maharashtra and ports of Pipavav, Mundra and Kandla in Gujarat destined for ICDs located in northern India, especially at Tughlakabad, Dadri and Dandharikalan. Besides containers, other commodities moving on the Western DFC are POL (petroleum, oils, and lubricants), fertilisers, food grains, salt, coal, iron and steel and cement. Further, owing to its faster growth than other commodities, the share of container traffic is expected to increase and reach a level of about 80 per cent by 2021-22. The rail share of container - 60 - 73 Dedicated Freight Corridor Corporation of India Ltd., Western Corridor, Source URL - http://www.dfccil.gov.in/dfccil_app/Western_Corridor

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traffic on this corridor is slated to increase from 0.69 million TEUs in 2005-06 to 6.2 million TEUs in 2021-22. The other commodities are projected to increase from 23 million tonnes in 2005-06 to 40 million tonnes in 2021-22. As a result, the maximum number of trains in the section is projected to 109 each way in Ajmer-Palanpur section”. “It is proposed to set up parks at Mumbai, particularly in the vicinity of Kalyan-Ulhasnagar or Vashi-Belapur in , Vapi in southern Gujarat, Ahmedabad, Gujarat, Gandhidham, Kutch, Gujarat, Jaipur, Rajasthan, NCR of Delhi. These locations have been selected on the basis that these have a good concentration of diverse industries, and they constitute major production/consumption centres. They are also well connected by rail and road for convenient movement in different directions. These parks are proposed to be developed as PPP by creating a sub-SPV for the same. DFCCIL has proposed to provide rail connectivity to such parks, and private players would be asked to develop and provide state of the art infrastructure as a common user facility”.74

Direction/Commodity 2016-17 2021-22

Up Direction

Food grains, Fertilizer 1.20 1.80

POL 0.30 0.50

Cement, Salt, Misc 0.40 0.80

Containers (in million 1.90 2.70 TEUs)

Sub-total excluding 1.90 3.10 containers

Down Direction

Coal, Cement, Iron & 6.30 9.40 Steel

Fertilizer, Food grains, 1.60 2.60 Salt

POL 1.00 1.50 - 61 -

74 Ibid

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Containers (in million 1.90 2.60 TEUs)

Sub-total excluding 8.90 13.50 containers

Total excluding containers 10.90 16.60

Total Containers (in million 3.80 5.30 TEUs)

Rites Report: Table 12.3 of Western Corridor PETS Report

- 62 -

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Annexure V – Declared And Identified National Waterways

The India-Water Resources Information System of India gives details of the national waterways as following -

National Waterways-1

• “The Ganga-Bhagirathi-Hooghly river system from Allahabad to Haldia was declared as National Waterway No.1 vide National Waterway (Allahabad-Haldia stretch of the Ganga Bhagirathi- Hooghly river) Act 1982 (49 of 1982). It became operative from October 27, 1986, after the formation of the IWAI. The waterway extends from Haldia to Allahabad for a distance of 1620 kms”.75

National Waterways-2

• “The Brahmaputra from to Sadiyawas declared as National Waterway no. 2 vide National Waterway (Sadiya-Dhubri stretch of the ) Act 1988. From Dhubri to Sadiya, the waterway extends for a distance of 891 kms. The river Brahmaputra flows down the centre of Assam Valley. The Brahmaputra along with its continuous water routes, and tributaries like Subansiri, Jia Bharali, Dihing, Burhi Dihing, Disang, Dhansiri and Kopili, leading up to the ports of Calcutta and Haldia is a very important traditional IWT route. Under an agreement with the Government of Bangladesh, the CIWTC and other Indian vessel operators are plying their cargo vessels between Assam and Calcutta region making use of IWT transit facilities through Bangladesh. • “Important river stations/commercial centres along the riverbank in NW-2 are Dhubri, Jogighopa, Pandu/Guwahati, Tezpur, Neamati, , Sadiya and Saikhowa. Pandu/Guwahati is the most important river station on NW-2 and the stretch downstream of Pandu up to Bangladesh Border (260 kms) is the stretch where IWT operation is presently most active”.76

National Waterways-3

• “The West Coast Canal from Kottapuram to Kollam was declared as National Waterway No. 3 vide National Waterway (Kollam-Kottapuram stretch of West Coast

75 India- WRIS, Water Resources Information System of India, National Waterways-1, source URL: http://59.179.19.250/wrpinfo/index.php?title=National_Waterways-1 - 63 - 76 India- WRIS, Water Resources Information System of India, National Waterways-2, source URL: http://59.179.19.250/wrpinfo/index.php?title=National_Waterways-2

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Canal and Champakara and Udyogmandal Canals) Act 1992 and notified on February 1, 1993. From Kottapuram to Kollam including Champakara and Udyogmandal canals has a navigable length of 205 kms. • “This waterway comprises of natural lakes, back-waters, river sections and man- made canal sections. The Champakara and Udyogmandal canals link industrial centres of Ambalamugal and Udyogmandal with the Kochi port. On the main West Coast Canal between Kollam and Kottapuram, the Kochi Edapallikota (120 kms) stretch was opened for cargo movement during November 1994 after improvement works were carried out by IWAI”.77

National Waterways-4

• “Kakinada-Puducherry canal stretch (767 km) along with Godavari River stretch (171 km) between (Bhadrachalam and Rajahmundry) and Krishna River stretch (157 km) between (Wazirabad and Vijaywada) is termed as NW-4. The total length of NW-4 is 1095 km. A network of irrigation cum navigation canal linking Chennai and Ennore in Tamil Nadu with the Kakinada, and Machilipatnam in Andhra Pradesh runs through a distance of 618 kms. The Kakinada canal and Eluru canal and Commamur canal which are irrigation cum navigation canal also interlink the river systems of Godavari and Krishna. The Buckingham canal which interlinks the Commamur canal with Chennai port runs through a distance of 315 Km is tidal”.78

National Waterways-5

• “The East Coast Canal stretch along with Brahmani and Mahanadi delta river system is defined as NW-5. It includes the canal stretch between Geonkhali and Charbatia (217 km), part of Matai River between Charbatia and Dhamra (40 km), part of Brahmani, Kharsua and Dhamra river system between Talcher and Dhamra (265 km) and Mahanadi delta river system between Mangalgadi and (101 km). The total length of NW-5 is 623 km”.79

77 India- WRIS, Water Resources Information System of India, National Waterways-3, source URL: http://59.179.19.250/wrpinfo/index.php?title=National_Waterways-3 78 India- WRIS, Water Resources Information System of India, National Waterways-4, source URL: http://59.179.19.250/wrpinfo/index.php?title=National_Waterways-4 - 64 - 79 India- WRIS, Water Resources Information System of India, National Waterways-5, source URL: http://59.179.19.250/wrpinfo/index.php?title=National_Waterways-5

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National Waterways-6

• “Declaration of Barak river from Bhanga to Lakhipur (121 km) in Assam as National Waterway is under consideration of the government. River Barak originates from Patkari range of Manipur at an elevation of 2440 mts. The river flows through Manipur, Manipur-Mizoram and Manipur-Assam border and then along Assam and then finally enters into Bangladesh. Out of the total length of 900 kms of the river, 564 kms is in the Indian territory. The IWT route through Bangladesh is open for navigation under the Indo-Bangladesh Protocol which facilitates the movement of IWT vessels up to Karimganj and Silchar. Hydrographic surveys carried out in the river route have shown the feasibility of extension of this river route up to Lakhipur. Since this IWT route serves a vital transportation linkage to the North-Eastern states, it is proposed to develop the river and to improve the navigational facilities in the protocol route leading to Karimganj during the 9th Five Year Plan”.80

Some of the other waterways identified for development during the 9th Five Year plan and beyond are as follows:

Sunderbans

“IWT route from Haldia to Bangladesh runs through the Sunderbans delta. This is a tidal inland waterway route which forms part of the trade and transit route under the Indo-Bangladesh Protocol. The hydrographic survey was conducted in 1988-89 and proposal submitted to the Government for its declaration as National Waterway.

Goa Waterways

“Goa waterways are among the ten waterways identified by the National Transport Policy Committee (NTPC). These waterways comprises of Mondovi, Zuari rivers and Cumberjua canal having a length of about 122 kms. The waterways are fully functional with about 15 million tonnes annual cargo movement which mainly con- sists of iron ore from mines to Mormugao Port.

DVC Canal

“This is a navigation canal system connecting with Tribeni in Hooghly river which runs through a distance of 136 kms. Bhagwati Committee had identified this

- 65 - 80 India- WRIS, Water Resources Information System of India, National Waterways-5, source URL: http://59.179.19.250/wrpinfo/index.php?title=National_Waterways-6

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as a prospective waterway to be revived. Techno-economic studies and the hydro- graphic surveys of this navigational canal system is in progress. The revival of this canal for movement of Coal from Durgapur mines to various destinations in NW-1 and 2 was proposed during the 9th Five Year Plan.

Narmada River

“The Narmada river is the largest river in India flowing from East to West. Its source is near Amarkantak in central India. The river flows almost a straight course towards the Gulf of Khambhat. Narmada is one of the 10 major waterways identified for declaration as National Waterways by the NTPC. The Pre-feasibility study for navigation on river Narmada waterway was carried out in 1981/ 82 by the Government of Gujarat. Development of Narmada in the lower reaches which are partly tidal below Sardar Sarovar Dam and development of navigation in the reservoir area of the high dams were proposed during the 9th Five Year Plan.

Extension of National Waterway No-III

“Based on the Techno-economic feasibility study, the stretch of the West Coast Canal from Kottapuram to Kollam was declared as National Waterway in 1993. Extension of the waterway towards North up to Kasargod and towards South up to Kovalam is persistently sought by public representatives and the State Government in view of the inadequacy of transport infrastructure in Kerala.

Other Waterways

“Other waterways which are proposed to be developed during the 9th Five Year Plan include Yamuna upstream of Allahabad including the stretch in the Delhi region, IWT route at Mumbai to decongest the Mumbai city, and feeder routes in the existing National Waterways, waterways of Punjab and Haryana, Polavaram canal, Rajasthan canal, Mizoram waterways etc. Development of these waterways would be taken up either as central schemes or as centrally sponsored schemes where the State government would have a major role to play”.81

- 66 - 81 India- WRIS, Water Resources Information System of India, Inland Waterways, source URL: http://59.179.19.250/wrpinfo/index.php?title=Inland_Waterways

Infrastructure Projects Financing Mapping

Annexure VI - Details Of Projects Implemented Under Sagarmala Programme Including – Port Modernisation And New Port Development, Port Connectivity Enhancement And Port Led Industrialisation.

Port Modernisation and New Port Development

Capacity Expansion of existing Major Ports

For all the 12 major ports, master plans have been finalised. From the port master plans, 106 port capacity expansion projects (cost: Rs. 67,697 Cr) have been identified for implementation over the next 20 years and are expected to add 785 MTPA to the capacities at major ports.

Port Master Plan Projects at Major Ports82

Port Master Plan Projects Major No. of Projects Project Cost (Rs. Cr) Capacity Addition (MTPA)

Chennai 6 1187 14

Cochin 4 1388 4

KPL 16 12412 108

JNPT 10 17924 126

Kandla 14 6324 104

Kolkata 1 25 4

Port Master Plan Projects Major Major Port Master Plan Projects Major

Haldia 8 3645 39

Mormugao 4 2345 23

Mumbai 8 5472 33

NMPT 4 843 18

Paradip 8 5224 78 - 67 -

82 Source URL - http://www.sagarmala.gov.in/project/port-modernization-new-port-development

Infrastructure Projects Financing Mapping

Tuticorin 17 8974 182

Vizag 6 1935 52

Total 106 67,697 785

New Port Development

To fill the demand gap, 6 new major ports are planned, which will significantly expand capacity. The locations of these new ports are deliberated after detailed origin-destination study of cargo commodities. There are mainly three levers that propel the need for building new ports: New port locations have been identified based on the cargo flow for key commodities and the projected traffic:

Greenfield ports are proposed to be developed at • Vadhavan (Maharashtra) • Tajpur (West Bengal) • Paradip Outer Harbour (Odhisha) • Cuddalore/Sirkazhi (Tamil Nadu) • Belikeri (Karnataka) • Enayam (Tamil Nadu) - Transshipment Port.83

Port Connectivity Enhancement84

Under Sagarmala Programme, the endeavor is to provide enhanced connectivity between the ports and the domestic production/consumption centres. More than 213 connectivity projects at an estimated investment of more than Rs. 2.50 lakh crores have been identified. Some of the types of connectivity projects considered are listed below:

• Coastal berths at various major and non-major ports • National waterways prioritised for development in the first phase • Heavy haul rail corridor from Talcher to Paradip • Connectivity to Dedicated freight corridors • Last-mile rail and road connectivity projects

- 68 - 83 Source URL - http://www.sagarmala.gov.in/project/port-modernization-new-port-development 84 Source URL - http://www.sagarmala.gov.in/project/port-connectivity-enhancement

Infrastructure Projects Financing Mapping

• Major rail connectivity projects • Freight friendly Expressway projects connecting the major ports • Development of Multi-Modal Logistics Parks • POL Pipelines

Port-led Industrialisation85

Coastal Economic Zones Planned under Sagarmala:

S.No. CEZ State Districts Covered Linkage Ports

Deen Dayal, 1 Kachch Gujarat Kachchh Mundra Junagarh, Amreli, Bhavnagar, 2 Saurashtra Gujarat Pipavav, Sikka Ahmedabad 3 Suryapur Gujarat Bharuch, Surat, Navsari, Dahej, Hazira North Nashik, Thane, Mumbai, Pune, 4 Maharashtra JNPT, Mumbai Konkan Raigarh South Maharashtra, Ratnagiri, Sindhudurg, North Goa, Dighi, Jaigarh, 5 Konkan Goa South Goa Mormugao Dakshin Udupi, Dakshin Kannada, Kodagu, 6 Karnataka New Kanara Mysore Ernakulam, Alappuzha Kollam, 7 Malabar Kerala Cochin Thiruvananthapuram , Tirunelveli, 8 Mannar Tamil Nadu VOCPT (Tuticorin) Thoothukudi Cuddalore, Perambalur, Ariyalur, 9 Poompuhar Tamil Nadu Tiruchirappallu, Thanjavur, Cuddalore Thiruvarur, Nagapattinam Chennai, 10 VCIC South Tamil Nadu Thiruvallur, Chennai, Kancheepuram Kamarajar, Katupalli VCIC Andhra 11 Chittoor, Krishnapatnam Central Pradesh

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85 Source URL - http://www.sagarmala.gov.in/project/port-led-industrialization

Infrastructure Projects Financing Mapping

S.No. CEZ State Districts Covered Linkage Ports

Guntur, Krishna, West Godavari, East Andhra 12 VCIC North Godavari, Visakhapatnam, Vizag, Kakinada Pradesh Vizianagaram, Srikakulam Puri, Jagatsinghapur, Cuttack, 13 Kalinga Odisha Paradip, Dhamara Kendrapara, Jajapur, Bhadrak Purba Medinipur, South twenty 14 Gaud West Bengal Kolkata, Haldia Parganas Chennai, 10 VCIC South Tamil Nadu Thiruvallur, Chennai, Kancheepuram Kamarajar, Katupalli

Industrial and Maritime Clusters Planned under Sagarmala

Total Potential Location Type of Cluster # Rs. Cr Petrochemical 4 18,080 Ennore (Tamil Nadu), Gujarat, Kakinada (AP) Krishnapatanam (AP), Ennore (Tamil Nadu), Power 4 108,897 Bulk Maharashtra, Tuticorin (Tamil Nadu) Steel 2 154,000 Ennore (Tamil Nadu), Southern Maharashtra Cement 2 49,000 Gujarat, Andhra Pradesh Saurashtra (Gujarat), Central Andhra Pradesh Apparel 3 9,963 and Vidarbha (Maharashtra) Leather and 3 5,640 Bihar, Tamil Nadu, West Bengal Footwear Food Satara (Maharashtra), Kakinada (AP), Andhra 3 387 Processing Pradesh Furniture 2 4,516 Kutch (Gujarat), Bihar Discrete Manufacturing North Maharashtra, Velum Teluka (Goa), Tamil Nadu, AP, Gujarat, Parganas, West Bengal, Electronics 11 50,005 Bhubneshwar (Odisha), Ernakulam (Kerala), Tunda (Gujarat), Chittor (AP), Tirupati (AP) Auto 1 4,465 Sanand (Gujarat)

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Infrastructure Projects Financing Mapping

Maritime Maritime 2 900 Tamil Nadu Total 37 405,854

Further, development of a SEZ at JNPT (cost: Rs. 476 crores) and Smart Industrial Port City (SIPC) at Paradip (cost: Rs. 2,770 crores) is in progress. SIPC at Kandla (cost: Rs. 1,147 crores) and Coastal Employment Units (CEUs) at VoCPT and KPL are also under development86.

- 71 -

86 Source URL - http://www.sagarmala.gov.in/project/port-led-industrialization

Infrastructure Projects Financing Mapping

Annexure VII - Details Of Major Infrastructure Projects Supported By Some Of The IFIs As Well As Bilateral Agencies In India.87

World Bank Supported Infrastructure Projects In India

Urban Housing

Commitment Amount (USD Project Project ID million) Status India Low-Income Housing Finance P119039 100.00 Active

Hydropower

Commitment Amount Project (USD Project ID million) Status Vishnugad Pipalkoti Hydro Electric Project P096124 648.00 Active

Power

Commitment Amount Project (USD Project ID million) Status North Eastern Region Power System Improvement Project P127974 470.00 Active Fifth Power System Development Project P115566 1,000.00 Active Jharkhand Power System Improvement Project P162086 310.00 Pipeline

- 72 - 87 The List Of Projects Is Compiled From The Institution/ Agency Projects Databases Available On Their Respective Websites.

Infrastructure Projects Financing Mapping

Railway Freight Corridor

Commitment Amount Project (USD Project ID million) Status Eastern Dedicated Freight Corridor- 3 P150158 650.00 Active Eastern Dedicated Freight Corridor – II P131765 1,100.00 Active Eastern Dedicated Freight Corridor – I P114338 975.00 Active

Roads And Highways

Commitment Amount Project (USD Project ID million) Status Madhya Pradesh Rural Connectivity project P157054 210.00 Active Bihar Rural Roads Project P155522 235 Active Second Tamil Nadu Road Sector Project P143751 300.00 Active Second Gujarat State Highway Project (GSHP II) P114827 175.00 Active National Highways Interconnectivity Improvement Project P121185 500.00 Active Rajasthan Road Sector Modernisation Project P130164 160.00 Active Assam State Roads Project P096018 320.00 Active Second Karnataka State Highway Improvement P107649 350.00 Active PMGSY Rural Roads Project P124639 1,500.00 Active NHAI Technical Assistance Project P121515 45.00 Active Andhra Pradesh and Telangana Road Sector Project P096021 320.00 Active

- 73 -

Infrastructure Projects Financing Mapping

Renewable Energy

Commitment Amount Project (USD Project ID million) Status Shared Infrastructure for Solar Parks Project P154283 75.00 Active Additional Financing for Grid- Connected Rooftop Solar Program P160018 22.94 Active Grid-Connected Rooftop Solar Program P155007 500.00 Active Prepare: Program to Establish Pilots for Access through Renewable Energy P144678 12.85 Pipeline Innovation in Solar Power and Hybrid Technologies P160379 150.00 Pipeline

Transport

Commitment Amount Project (USD Project ID million) Status Mizoram State Roads II- Regional Transport Connectivity Project P145778 107.00 Active India Second Kerala State Transport Project P130339 216.00 Active

Urban And Smart Cities

Commitment Amount Project (USD Project ID million) Status Uttar Pradesh Pro-Poor Tourism Development Project P146936 40.00 Active Assam State Public Finance Institutional Reforms (ASPIRe) Project P157198 35.00 Active Madhya Pradesh Urban Development Project P155303 116.20 Active Tamil Nadu Sustainable Urban Development Program P150395 400.00 Active Efficient and Sustainable City Bus Services P132418 9.20 Active - 74 - Capacity Building for Urban P099979 60.00 Active

Infrastructure Projects Financing Mapping

Development Project Andhra Pradesh And Telangana Municipal Development Project P071250 300.00 Active Jharkhand Municipal Development Project P158502 210.00 Pipeline Sustainable Capital City Development Project P159808 300.00 Pipeline India Urban Reforms Program (AMRUT Plus) P164940 500.00 Pipeline

Urban, Smart Cities And Power

Commitment Amount Project (USD Project ID million) Status Andhra Pradesh 24X7 Power for All P155038 240.00 Active

Urban, Smart Cities And Transport

Project Commitment Project ID Amount Status Mumbai Urban Transport Project 3 P159782 500.00 Pipeline

Urban, Smart Cities And Water

Commitment Amount Project (USD Project ID million) Status Uttarakhand Water Supply Program for Peri-Urban Areas P158146 120.00 Active IN Karnataka Urban Water Supply Modernisation Project P130544 100 Active

- 75 -

Infrastructure Projects Financing Mapping

Water Sector

Commitment Amount Project (USD Project ID million) Status National Hydrology Project P152698 175.00 Active IN Punjab Rural Water and Sanitation Sector Improvement Project P150520 248.00 Active Neeranchal National Watershed Project P132739 178.50 Active Uttarakhand Decentralised Watershed Development II Project P131235 121.20 Active IN Maharashtra Rural Water Supply and Sanitation Program P126325 165.00 Active IN Rural Water Supply and Sanitation Project for Low Income States P132173 500.00 Active IN Uttar Pradesh Water Sector Restructuring Project Phase 2 P122770 360.00 Active Himachal Pradesh Watershed Management Project P104901 8.00 Active Karnataka Watershed Development II P122486 60.00 Active IN 2nd Kerala Rural Water Supply and Sanitation Project (Jalanidhi II) P121774 155.30 Active IN West Bengal Accelerated Development of Minor Irrigation P105311 250.00 Active Water Sector Improvement Project P100954 450.60 Active (Abhy)-National Groundwater Management Improvement P158119 500.00 Pipeline Assam Integrated River Basin Management Project P158260 80.00 Pipeline Shimla Water Supply and Sewerage Project P160862 85.00 Pipeline

Water Infrastructure

Commitment Amount Project (USD Project ID million) Status Bihar Kosi Basin Development Project P127725 250.00 Active Jhelum and Tawi Flood Recovery Project P154990 250.00 Active IN National Ganga River Basin Project P119085 1,000.00 Active - 76 -

Infrastructure Projects Financing Mapping

Bihar Kosi Flood Recovery Project P122096 220.00 Active IN Dam Rehabilitation and Improvement Project P089985 350.00 Active

Inland Waterways

Project Commitment Project ID Amount Status Capacity Augmentation of the National Waterway- 1 (JAL MARG VIKAS) Project P148775 375.00 Active Assam Inland Water Transport Project P157929 120 Pipeline

AIIB SUPPORTED INFRASTRUCTURE PROJECTS

Financial Intermediaries

Project Project Commitment Total Status ID Amount Cost (USD (USD Million) Million)

NIIF 30 100 Million 600 Active Phase I (Phase I) Million (Phase I)

IFC Emerging Asia Fund 31 150 640 Approved

India Infrastructure Fund 22 150 750 Approved

Power And Smart Cities

Project Project Commitme Total Status ID nt Amount Cost (USD (USD Million) Million ) Andhra Pradesh 24x7 – 9 160 571 Approved Power For All

- 77 -

Infrastructure Projects Financing Mapping

Urban Infrastructure

Project Project Commitment Total Status ID Amount Cost (USD (USD Million) Million) Amaravati Sustainable 19 200 715 Dropped Capital City Development Project

Urban Transport

Project Project Commitment Total Status ID Amount Cost (USD (USD Million) Million) Metro Rail 38 335 1785 Approved Project – Line R6 Mumbai Metro Line 4 29 500 2224 Proposed Project

Urban Water Supply

Project Project Commitment Total Status ID Amount Cost (USD (USD Million) Million) Andhra Pradesh Urban 79 400 940 Proposed Water Supply and Septage Management Improvement Project

- 78 -

Infrastructure Projects Financing Mapping

ADB SUPPORTED INFRASTRUCTURE PROJECTS

Financial Intermediary

Project / ID Status Amount Type NIIF Limited/ 50365-001 Proposed 1.50 million Technical Assistance Tamil Nadu Infrastructure Fund Proposed 1.50 million Technical Management Company Limited/ 51002-001 Assistance

Industrial Corridor

Project / ID Status Amount Type

Supporting the Preparation and Active 2.00 million Technical Implementation of the Comprehensive Assistance Integrated Master Plan for the Vizag- Chennai Industrial Corridor/ 49110-002 Supporting Rajasthan’s Productive Clusters in Active 1.00 million Technical the Delhi–Mumbai Industrial Corridor/ Assistance 49276-001 Tamil Nadu Industrial Connectivity Project/ Proposed 484.00 million Loan 51337-001 Visakhapatnam-Chennai Industrial Corridor Active 245.00 million Loan Development Program - Project 1/ 48434- 003 Visakhapatnam–Chennai Industrial Corridor Active 500.00 million Loan Development Program/ 48434-002

Railway

Project / ID Status Amount Type Railway Sector Investment Program - 120.00 Tranche 3/ 36330-043 Active million Loan Railways Track Electrification Project/ Approved RS 50,385.00 Loan 51228-001 million - 79 -

Infrastructure Projects Financing Mapping

Urban

Project / ID Status Amount Type

Bangalore Cluster City Development Proposed 300.00 Loan Investment Program/ 45216-002 million

State-Level Support for National Flagship Active 1.12 million Technical Urban Programs/ 49107-002 Assistance

Urban Climate Resilience

Project / ID Status Amount Type

Promoting Urban Climate Change Active 15.00 million Technical Resilience in Selected Asian Cities/ 48317- Assistance 001 Strengthening Climate Change Resilience in Active 1.50 million Technical Urban India - Strengthening Smart Water Assistance Management and Urban Climate Change Resilience in Tamil Nadu (Subproject 1)/ 49106-002 Strengthening Climate Change Resilience in Active 2.50 million Technical Urban India - Supporting Climate Change- Assistance Resilient Smart Cities Mission Projects (Subproject 2)/ 49106-004

Strengthening Climate Change Resilience in Approved 7.00 million Technical Urban India/ 49106-001 Assistance

Urban Water And Industrial Corridor

Project / ID Status Amount Type

Tamil Nadu Urban Flagship Investment Proposed 500.00 Loan Program/ 49107-003 million

- 80 -

Infrastructure Projects Financing Mapping

Urban Water And Sewage

Project / ID Status Amount Type

Advanced Project Preparedness for Poverty Active 225000 Technical Reduction - Capacity Development of Assistance Institutions in the Urban Sector in Rajasthan (Subproject 32)/ 43166-216 Assam Urban Infrastructure Investment Approved 149.00 Loan Program - Tranche 2/ 42265-025 million Delhi Water Supply Improvement 290.00 Investment Program/ 47176-002 Proposed million Loan Kolkata Environmental Improvement Approved Loan/ Investment Program-Tranche 3/ 42266-026 100.00 Technical million Assistance Madhya Pradesh Urban Services Active 275.00 million Loan Improvement Project/ 42486-016 North Eastern Region Capital Cities Active 80.00 million Loan Development Investment Program – Tranche 3/ 35290-043

Promoting Smart Drinking Water Active 750000 Technical Management in South Asian Cities Assistance

Water

Project / ID Status Amount Type

West Bengal Drinking Water Sector Approved 240.00 Loan Improvement Project/ 49107-006 million

- 81 -

Infrastructure Projects Financing Mapping

NEW DEVELOPMENT BANK (NDB) SUPPORTED INFRASTRUCTURE PROJECTS IN INDIA

Sr. Project Loan/ Total Target Sector Status No. Name Investment Project Amount (USD Cost (USD m) m) 1. Manipur Water 312 390 Water supply Approved Supply Project and sanitation 2. Indore Metro 225 1200 Transportation Approved Rail Project 3. REC 300 426.83 Clean Energy Approved Renewable and Sustainable Energy Sector Development Development Project 4. Andhra Road 646 924 Transportation Approved Sector Project 5. Assam Bridge 300 377 Transportation Approved Project 6. Mumbai Metro 260 2500 Transportation Approved Rail Project 7. Madhya 350 500 Transportation Approved Pradesh Major District Roads II Project

8. Madhya 175 250 Transportation Approved Pradesh Bridges Project

9. Bihar Rural 350 500 Transportation Approved Roads Project 10. Rajasthan 345 495 Irrigation, Approved Water Sector Agriculture Restructuring Project

11. Madhya 470 670 Sustainable Approved Pradesh Multi Development Village Water Supply Scheme 12. Madhya 350 500 Renewable Approved - 82 - Pradesh major Energy;

Infrastructure Projects Financing Mapping

Districts Road Sustainable Project Development 13. Canara 250 500 Renewable Cancelled Renewable Energy; Energy Sustainable Financing Development Scheme

IFC SUPPORTED INFRASTRUCTURE PROJECTS IN INDIA

Inland Waterways

Project Type ID Status Region Country Inland Waterways Advisory Authority Partnership Services Active South Asia India Continental Warehousing USD 25 36727 Active South Asia India Corporation (Nhava million (Equity Seva) Limited - Facilities Investment); in DMIC, CBIC, AKIC USD 35 million (Loan) Project Cost – USD 90 million

Industrial Corridors

Project Type ID Status Region Country

Mahindra Life Rs equivalent of USD 50 million (In 38850 Active South India DMIC) Total Project Cost - USD 210 Asia million

Power Transmission

Project Type Status Region Country

Power Grid Investment Active South Asia India

Power Grid Investment Active South Asia India - 83 -

Infrastructure Projects Financing Mapping

Urban Housing

Project Type Status Region Country Company

Bhubaneswar Advisory Services Active South India Affordable Housing Asia

Smart Value Homes Investment Pending South India Tata Value Limited Approval Asia Homes Limited

Smart Value Homes Investment Pending South India Tata Value Limited Approval Asia Homes Limited

Urban Water

Project Type Status Region Country Company

Doshion Investment Pending South Asia India Doshion Approval Limited

Doshion Investment Pending South Asia India Doshion Approval Limited

Vishwa Infra Investment Active South Asia India Vishwa Infrastructure s and Services Private Limited

Vishwa Infra Investment Active South Asia India Vishwa Infrastructure s and Services Private Limited

- 84 -

Infrastructure Projects Financing Mapping

JICA SUPPORTED PROJECTS INFRASTRUCTURE PROJECTS IN INDIA

Power Plants

Project Subsector Date of Amount Amount approval of (in Rs (year/month/d approval Crores) ay) (million; JP¥)

Purulia Pumped Storage Power Plants 3/31/2006 17963 1131.669 Project(III)

North Karanpura Super Power Plants 3/31/2005 15916 1002.708 Thermal Power Project(I)

Dhauliganga Hydroelectric Power Plants 3/31/2004 13890 875.07 Power Plant Construction Project(III)

Purulia Pumped Storage Power Plants 3/31/2004 23578 1485.414 Project(II)

Umiam Stage II Hydro Power Power Plants 3/31/2004 1964 123.732 Station Renovation and Modernisation Project

Bakreswar Thermal Power Power Plants 3/31/2003 36771 2316.573 Station Units Extension Project

Simhadri Thermal Power Power Plants 3/31/2003 5684 358.092 Station Project (IV)

Simhadri Thermal Power Power Plants 2/13/2002 27473 1730.799 Station Project (III)

Simhadri Thermal Power Power Plants 3/30/2001 12194 768.222 Station Project (II)

- 85 -

Infrastructure Projects Financing Mapping

Railways

Project Subsector Special Date of Amount of Amount (in yen approval approval Rs Crores) (ODA) (year/mont (millions; loan / h/day) JP¥) STEP

Mumbai Metro Line Railways 3/29/2018 100000 6300 3 Project (II)

Dedicated Freight Railways 9/15/2017 108456 6832.728 Corridor Project (Procurement of Electric Locomotives)

Project for the Railways STEP 9/15/2017 10453 658.539 Construction of Training Institute for Mumbai- Ahmedabad High Speed Rail

Chennai Metro Railways 3/31/2017 33321 2099.223 Project (V)

Dedicated Freight Railways 3/31/2016 103664 6530.832 Corridor Project (Phase 1) (III)

Ahmedabad Metro Railways 3/4/2016 82434 5193.342 Project (I)

Chennai Metro Railways 3/4/2016 19981 1258.803 Project (IV)

Delhi Mass Rapid Railways 3/31/2014 140000 8820 Transport System Project (Phase 3) (II)

Mumbai Metro Line Railways 9/17/2013 71000 4473 3 Project

Chennai Metro Railways 3/28/2013 48691 3067.533 Project (III)

Dedicated Freight Railways STEP 3/28/2013 136119 8575.497 Corridor Project (Phase 2) (II) - 86 - Delhi Mass Rapid Railways 3/29/2012 127917 8058.771

Infrastructure Projects Financing Mapping

Transport System Project (Phase 3)

Bangalore Metro Railways 6/16/2011 19832 1249.416 Rail Project (2)

Dedicated Freight Railways STEP 7/26/2010 1616 101.808 Corridor Project (Phase 2)

Chennai Metro Railways 3/31/2010 59851 3770.613 Project (2)

Dedicated Freight Railways STEP 3/31/2010 90262 5686.506 Corridor Project (Phase 1) (2)

Delhi Mass Rapid Railways 3/31/2010 33640 2119.32 Transport System Project (Phase 2) (5)

Kolkata East-West Railways 3/31/2010 23402 1474.326 Metro Project (2)

Dedicated Freight Railways 10/27/2009 2606 164.178 Corridor Project (Phase 1)

Delhi Mass Rapid Railways 3/31/2009 77753 4898.439 Transport System Project (Phase 2) (IV)

Chennai Metro Railways 11/21/2008 21751 1370.313 Project

Delhi Mass Rapid Railways 3/10/2008 72100 4542.3 Transport System Project (Phase2) (III)

Kolkata East-West Railways 3/10/2008 6437 405.531 Metro Project

Delhi Mass Rapid Railways 3/30/2007 13583 855.729 Transport System Project (Phase 2)(II)

Bangalore Metro Rail Railways 3/31/2006 44704 2816.352 Project

Delhi Mass Rapid Railways 3/31/2006 14900 938.7 Transport System - 87 - Project (Phase2) (I)

Infrastructure Projects Financing Mapping

Delhi Mass Rapid Railways 3/31/2005 19292 1215.396 Transport System Project (VI)

Delhi Mass Rapid Railways 3/31/2004 59296 3735.648 Transport System Project(V)

Delhi Mass Rapid Railways 3/31/2003 34012 2142.756 Transport System Project (IV)

Delhi Mass Rapid Railways 2/13/2002 28659 1805.517 Transport System Project (III)

Delhi Mass Rapid Railways 3/30/2001 6732 424.116 Transport System Project(II)

Roads

Project Subsector Date of approval Amount Amount (year/month/day) of (in Rs approval Crores) (millions; JP¥)

North East Road Network Roads 3/29/2018 38666 2435.958 Connectivity Improvement Project (Phase 2)

Project for Installation of Roads 3/29/2018 8082 509.166 Chennai Metropolitan Area Intelligent Transport Systems

Delhi Eastern Peripheral Roads 3/31/2017 6870 432.81 Expressway Intelligent Transport Systems Installation Project

Mumbai Trans Harbor Link Roads 3/31/2017 144795 9122.085 Project (I)

North East Road Network Roads 3/31/2017 67170 4231.71 Connectivity Improvement Project (Phase 1) (I)

Bihar National Highway Roads 1/30/2014 21426 1349.838 - 88 - Improvement Project (Phase 2)

Infrastructure Projects Financing Mapping

Bihar National Highway Roads 2/22/2013 22903 1442.889 Improvement Project

Hyderabad Outer Ring Road Roads 11/21/2008 42027 2647.701 Project (Phase2)

Hyderabad Outer Ring Road Roads 3/10/2008 41853 2636.739 Project Phase1

Transmission Lines And Distribution Systems

Project Subsector Date of approval Amount Amount (year/month/day) of (in Rs approval Crores) (millions; JP¥) 973.791 Transmission System Transmission 3/31/2016 15457 Strengthening Project in Lines And Madhya Pradesh Distribution Systems

Odisha Transmission System Transmission 5/15/2015 21787 1372.581 Improvement Project Lines And Distribution Systems

Haryana Distribution System Transmission 3/31/2014 26800 1688.4 Upgradation Project Lines And Distribution Systems Tamil Nadu Transmission Transmission 9/28/2012 60740 3826.62 System Improvement Project Lines And Distribution Systems Andhra Pradesh Rural High Transmission 6/16/2011 18590 1171.17 Voltage Distribution System Lines And Project Distribution Systems Madhya Pradesh Transmission 6/16/2011 18475 1163.925 Transmission System Lines And Modernisation Project Distribution Systems Haryana Transmission Transmission 3/10/2008 20902 1316.826 System Project Lines And Distribution Systems - 89 - Maharashtra Transmission Transmission 9/14/2007 16749 1055.187

Infrastructure Projects Financing Mapping

System Project Lines And Distribution Systems Maharashtra Transmission Transmission 9/14/2007 16749 1055.187 System Project Lines And Distribution Systems Bangalore Distribution Transmission 3/30/2007 10643 670.509 Upgradation Project Lines And Distribution Systems Transmission System Transmission 3/30/2007 23697 1492.911 Modernisation and Lines And Strengthening Project in Distribution Hyderabad Metropolitan Systems Area Rural Electrification Project Transmission 3/31/2006 20629 1299.627 Lines And Distribution Systems Simhadri and Vizag Transmission 5/10/2002 6400 403.2 Transmission System Project Lines And (II) Distribution Systems

Ports

Project Subsector Date of approval Amount of Amount (in Rs (year/month/day) approval Crores) (millions; JP¥)

Visakhapatnam Port Expansion Project Ports 3/30/2007 4129 260.127 Visakhapatnam Port Expansion Project (E/S) Ports 3/31/2006 161 10.143

- 90 -

Infrastructure Projects Financing Mapping

Other Electric Power And Gas

Project Subsector Special Date of approval Amount of Amount yen (year/month/day) approval (in Rs (ODA) (millions; Crores) loan / JP¥) STEP New and Renewable Energy Other Electric Development Power And Project (Phase 2) Gas 9/1/2014 30000 1890 New and Renewable Energy Other Electric Development Power And Project Gas 6/16/2011 30000 1890

Marine Transportation

Project Subsector Special Date of approval Amount of Amount yen (year/month/day) approval (in Rs (ODA) (millions; Crores) loan / JP¥) STEP Project for Upgradation of Environmental Management for Ship Recycling in Alang and Sosiya in Marine Gujarat Transportation 9/15/2017 8520 536.76

JBIC SUPPORTED INFRASTRUCTURE PROJECTS

Amount Name Sector (USD) Delhi Mumbai Industrial Corridor Project Industrial Corridor 125 m Combined Gas-Fired Power Plant Power NA Export for Super Critical Pressure Coal Thermal Power Plant Power NA TSL for Renewable Energy Related Project Renewable NA Financial - 91 - Infrastructure Fund focusing on India Intermediary NA

Infrastructure Projects Financing Mapping

- 92 -

Infrastructure Projects Financing Mapping This mapping document looks at infrastructure sector in India, its basic concepts, estimates by the Government of India, the World Bank (WB), Asian Development Bank (ADB), International Finance Corporation (IFC), Asian Infrastructure Investment Bank (AIIB) and others regarding the funds required to invest in India’s infrastructure sector, as well as some of the current financing trends such as Public-Private Partnerships (PPPs) and Hybrid Annuity Model — that are being recommended as a part of policy changes to implement infrastructure projects as well as the allocations made by the government for the infrastructure sector and also the various agencies and institutions.

Centre for Financial Accountability (CFA) engages and supports efforts to advance transparency and accountability in financial institutions. We use research, campaigns and trainings to help movements, organisations, activists, students and youth to engage in this fight, and we partake in campaigns that can shift policies and change public discourse on banking and economy.

We monitor the investments of national and international financial institutions, engages on policies that impact the banking sector and economy of the country, demystify the world of finance through workshops and short-term courses and help citizens make banks and government more transparent and accountable, for they use public money.