Senior secured debt financing to GR Infraprojects Limited (GRIL) for purchasing new construction equipment and machinery.
| Project Name | Highway Equipment Finance Project | |||||
| Project Number | 52371-001 | |||||
| Borrower/Company | GR Infraprojects Limited |
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| Country | India |
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| Location | Nation-wide | |||||
| Type or Modality of Assistance |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | Private sector development |
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| Sector / Subsector | Transport / Road transport (non-urban) |
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| Gender Equity and Mainstreaming | Some gender elements | |||||
| Responsible ADB Department | Private Sector Operations Department | |||||
| Responsible ADB Division | Infrastructure Finance Division 1 | |||||
| Responsible ADB Officer | Choudhary, Mayank | |||||
| Project Sponsor(s) | Agarwal Family |
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| Description | Senior secured debt financing to GR Infraprojects Limited (GRIL) for purchasing new construction equipment and machinery. | |||||
| Objectives and Scope | The project will help increase GRIL's execution capacity, and the Asian Development Bank (ADB) funding will enable the company to access medium-term financing in a domestic environment where liquidity is becoming tight for companies operating in the infrastructure sector. This increased operational capacity will enhance GRIL's ability to execute its order book, and thus support the investment plans of the Government of India in the roads subsector. | |||||
| Linkage to Country/Regional Strategy | The project, through its support for enhancement of connectivity, is consistent with ADB's Strategy 2030 with respect to the following operational priorities: promoting rural development, making cities more livable, and addressing remaining poverty and reducing inequalities. The project is consistent with ADB's country partnership strategy, 2018 2022 for India, specifically with pillar 2 providing inclusive access to infrastructure networks and social services by improving the infrastructure bottlenecks in lagging regions. |
| Safeguard Categories | |
|---|---|
| Environment | C |
| Involuntary Resettlement | C |
| Indigenous Peoples | C |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | ADB's investment will be used to purchase road construction equipment to ensure minimal reliance on hired or leased equipment. Proceeds from ADB's investment will not be directly used for any construction activities or road development or maintenance projects. The environmental impact is expected to be minimal. |
| Involuntary Resettlement | ADB's funds will be used solely for the procurement of road construction and maintenance equipment to ensure minimal reliance on hired or leased equipment. No land acquisition and/or involuntary resettlement impacts are envisaged. |
| Indigenous Peoples | ADB's funds will be used solely for the procurement of road construction and maintenance equipment to ensure minimal reliance on hired or leased equipment. No impacts on indigenous peoples are envisaged. |
| Stakeholder Communication, Participation, and Consultation | |
| Timetable for assistance design, processing and implementation | |
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| Concept Clearance | 12 Feb 2019 |
| Credit Committee Meeting | 03 Jun 2019 |
| Approval | 16 Jul 2019 |
| Last PDS Update | 23 Jul 2019 |
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.
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| Title | Document Type | Document Date |
|---|---|---|
| Highway Equipment Finance Project: Report and Recommendation of the President | Reports and Recommendations of the President | Jun 2019 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
None currently available.
The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.
Requests for information may also be directed to the InfoUnit.
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ADB to Lend $23 Million to GR Infraprojects Limited to Expand Road Building Capacity in India
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