fbpx 52371-001: Highway Equipment Finance Project | Asian Development Bank

India: Highway Equipment Finance Project

Nonsovereign (Private) Project | 52371-001 Status: Proposed

Senior secured debt financing to GR Infraprojects Limited (GRIL) for purchasing new construction equipment and machinery.

Project Details

Project Officer
Choudhary, Mayank Private Sector Operations Department Request for information
Country
  • India
Sector
  • Transport
 
Project Name Highway Equipment Finance Project
Project Number 52371-001
Borrower/Company GR Infraprojects Limited
Country India
Location Nation-wide
Type or Modality of Assistance
3798 Loan Ordinary capital resources INR 1,597.81 million Approved
Strategic Agendas Inclusive economic growth
Drivers of Change Private sector development
Sector / Subsector

Transport / Road transport (non-urban)

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
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
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
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.

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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

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