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Railway Sector Improvement Project Completion Report Project Number: 36317-013 Loan Number: 1981 Technical Assistance Number: 4053 November 2020 India: Railway Sector Improvement Project This document is being disclosed to the public in accordance with ADB's Access to Information Policy. CURRENCY EQUIVALENTS Currency unit – Indian rupees (₹) At Appraisal At Project Completion 26 November 2002 31 December 2011 ₹1.00 = $0.0208 $0.0188 $1.00 = ₹48.1300 ₹53.1050 ABBREVIATIONS ADB – Asian Development Bank EIRR – economic internal rate of return MIS -- management information system MOR – Ministry of Railways NCB – national competitive bidding NRVY – National Rail Vikas Yojana PCC – project coordination committee PMC – project management consultant PPMS – project performance management system QCBS – quality- and cost-based selection RVNL – Rail Vikas Nigam Limited SPV – special purpose vehicle TA – technical assistance TOR – terms of reference WEIGHTS AND MEASURES km – kilometer km2 – square kilometer m – meter NOTES (i) The fiscal year (FY) of the Government of India ends on 31 March. FY before a calendar year denotes the year in which the fiscal year ends, e.g., FY2020 ends on 31 March 2020. (ii) In this report, “$” refers to United States dollars. Vice-President Shixin Chen, Operations 1 Director General Kenichi Yokoyama, South Asia Department (SARD) Director Ravi Peri, Transport and Communications Division (SATC), SARD Team leader Mukund Kumar Sinha, Transport Specialist, SATC, SARD Team members Arlene Ayson, Senior Operations Assistant, SATC, SARD Marie Kristine Estrella, Associate Project Officer, SATC, SARD In preparing any country program or strategy, financing any project, or by making any designation of or reference to a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area. CONTENTS Page BASIC DATA i I. PROJECT DESCRIPTION 1 II. DESIGN AND IMPLEMENTATION 1 A. Project Design and Formulation 1 B. Project Outputs 2 C. Project Costs and Financing 4 D. Disbursements 5 E. Project Schedule 5 F. Implementation Arrangements 7 G. Technical Assistance 8 H. Procurement and Consultant Recruitment 8 I. Gender Equity 9 J. Safeguards 9 K. Monitoring and Reporting 9 III. EVALUATION OF PERFORMANCE 10 A. Relevance 10 B. Effectiveness 11 C. Efficiency 11 D. Sustainability 12 E. Development Impact 12 F. Performance of the Borrower and the Executing Agency 13 G. Performance of the Asian Development Bank 13 H. Performance of Consultants, Contractors, and Suppliers 13 I. Overall Assessment 14 IV. ISSUES, LESSONS, AND RECOMMENDATIONS 14 A. Issues and Lessons 14 B. Recommendations 15 APPENDIXES 1. Project Framework 16 2. Project Costs 22 3. Disbursement and Contract Awards of ADB Loan Proceeds 24 4. Actual and Planned Project Implementation Schedule 27 5. Chronology of Major Events 28 6. Organizational Structure for Project Implementation 30 7. Status of Compliance with Main Loan Covenants 31 8. Technical Assistance Completion Report 48 9. Economic and Financial Reevaluation 52 10. Project Procurement Packages 82 11. Snapshot of Achievements in Reforms at Loan Closure 83 BASIC DATA A. Loan Identification 1. Country India 2. Loan number and financing source 1981-IND, ordinary capital resources 3. Project title Railway Sector Improvement Project 4. Borrower India 5. Executing agency Indian Railways, Ministry of Railways 6. Amount of loan $313,600,000.00 7. Financing modality Sector loan B. Loan Data 1. Appraisal – Date started 12 September 2002 – Date completed 1 October 2002 2. Loan negotiations – Date started 20 November 2002 – Date completed 22 November 2002 3. Date of Board approval 19 December 2002 4. Date of loan agreement 21 April 2004 5. Date of loan effectiveness – In loan agreement 20 July 2004 – Actual 26 October 2004 – Number of extensions 2 6. Project completion date – In loan agreement 31 December 2007 – Actual1 31 December 2011 7. Loan closing date – In loan agreement 30 June 2008 – Actual 31 December 2011 – Number of extensions 3 8. Financial closing date – Actual 19 June 2012 9. Terms of loan – Interest rate LIBOR – Maturity (number of years) 25 – Grace period (number of years) 5 10. Terms of relending (if any) Not applicable 1 The Government continues to finance the project till its final completion. ii 11. Disbursements a. Dates Initial Disbursement Final Disbursement Time Interval 9 December 2005 25 May 2012 78 months Effective Date Actual Closing Date Time Interval 26 October 2004 19 June 2012 92 months b. Amount ($) Original Net Increase Final Amount Undisbursed Category Allocationa (Decrease) Allocationb Disbursed Balance Civil works A 16,000,000 1,398,588 17,398,588 17,398,588 0 Civil works B 178,200,000 (15,071,281) 163,128,719 163,128,719 0 Supply of goods 105,000,000 (84,548,287) 20,451,713 20,451,713 0 Consulting services C 600,000 (239,414) 360,586 360,586 0 Consulting services D 6,400,000 (5,824,464) 575,536 575,536 0 Management information 7,400,000 (7,400,000) 0 0 0 system Total 313,600,000 111,684,858 201,915,142 201,915,142 0 a Revised original allocation amounts based on Amendment to Loan Agreement dated 11 October 2006 b Final allocation amounts after final cancellation of $10,384,858.97 dated 19 June 2012 12. Local costs (financed) – Amount ($124,892.04) – Percent of Local Costs (2.31%) – Percent of Total Cost (0.06%) C. Project Data 1. Project cost ($ million) Cost Appraisal Estimate Actual Foreign exchange cost 340.80 Not available as the Local currency cost 238.40 project is not yet complete Total 579.20 2. Financing plan ($ million) Cost Appraisal Estimate Actual Implementation costs Borrower-financed 238.400 244.753 ADB-financed 340.800 201.910 Total 579.200 446.663 ADB = Asian Development Bank. iii 3. Cost breakdown by project component ($ million) Appraisal Estimate Actual Component ADB Government ADB Government A. Investment subprojects 299.2 226.6 200.979 244.7410000 B. Consulting services, training and 9.0 11.8 0.936 0.0011387 management information system C. Front-end fee 3.1 0.0 … … D. Interest during construction 29.5 0.0 … … Total 340.8 238.4 201.915 244.7421387 … = not available, ADB = Asian Development Bank. 4. Project schedule Item Appraisal Estimate Actual Land acquisition Q4 2002–Q2 2003 Q4 2002–Q4 2007 Project preparatory consulting services Q3 2002–Q2 2003 Q3 2002–Q4 2008 Procurement process of subprojects Q4 2002–Q3 2003 Q1 2003–Q2 2009 Construction and installation of subprojects Q3 2003–Q4 2007 Q1 2008–Q4 2020 Dates First procurement 25 May 2005 Last procurement 24 June 2010 Start of operations July 2008 Completion of tests and commissioning December 2020 Q = quarter. 5. Project performance report ratings Ratings Implementation Implementation Period Development Objectives Progress From 9 December 2002 to 31 December 2002 Satisfactory Satisfactory From 1 January 2003 to 31 December 2003 Satisfactory Unsatisfactory From 1 January 2004 to 31 December 2004 Satisfactory Satisfactory From 1 January 2005 to 31 December 2005 Satisfactory Satisfactory From 1 January 2006 to 31 December 2006 Satisfactory Satisfactory From 1 January 2007 to 31 December 2007 Satisfactory Satisfactory From 1 January 2008 to 31 December 2008 Satisfactory Satisfactory From 1 January 2009 to 31 December 2009 Satisfactory Satisfactory From 1 January 2010 to 31 December 2010 Satisfactory Satisfactory From 1 January 2011 to 31 March 2011 On Track From 1 April 2011 to 30 June 2011 On Track From 1 July 2011 to 31 September 2011 On Track From 1 October 2011 to 31 December 2011 On Track From 1 January 2012 to 31 March 2012 On Track From 1 April 2012 to 30 June 2012 On Track Note: Beginning January 2011, ratings are based on single project performance ratings recorded in eOperations (PAI No. 5.08). iv D. Data on Asian Development Bank Missions No. of No. of Specialization Name of Mission Date Persons Person-Days of Members Consultation 11–17 July 2002 4 7 c, i, s, t Re-appraisal 12 September– 12 20 c (2), e, f (3), i, 1 October 2002 n, s, t (3) Consultation 10–12 November 1 3 i 2003 Inception 20–24 July 2004 2 5 a, i Review 1 6–9 May 2005 3 4 c, i, t Project Coordination Committee 9–12 September 2 4 i, t meeting 2005 Review 2 30 August– 5 8 a, f, i, s, t 6 September 2006 Project Coordination Committee 27 October 2006 2 1 i, t meeting Special loan administration 1 7–10 March 2007 1 4 i Review 3 20–30 March 2007 2 11 a, i Special loan administration 2 16–17 July 2007 3 2 p, t (2) Midterm review 12–22 November 3 11 a, i, t 2007 Review 4 3–21 July 2008 5 19 f, i, t (3) Special loan administration 3 4–5 November 2008 3 2 i, t (2) Review 5 12–23 January 2009 3 12 i, t (2) Review 6 2–14 July 2009 4 13 a, i, t (2) Review 7 18–28 October 2010 1 11 i Project completion review 1 12–23 August 2013 2 12 t, c Project completion review 2 3–7 February 2020 3 15 t,a,c a = analyst, c = consultant, e = environment specialist, f = financial specialist, i = implementation officer, n = counsel, p = project administration unit head, s = social specialist, t = transport specialist. I. PROJECT DESCRIPTION 1. An efficient transport system is a prerequisite for sustained economic development. It is not only the key infrastructural input for the growth process but also plays a significant role in promoting climate-friendly mass transport, which is particularly important in a large and densely populated country such as India.
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