Announcement of World Bank Assists Urban Transport Development in Bombay, India on October 28, 1976

.world Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A. • Telephone: (202) 393-6360 BANK NEWS RELEASE 77 /28 OCTOBER 28, 1976 WORLD BANK ASSISTS URBAN TRANSPORT DEVELOPMENT IN BOMBAY, INDIA A World Bank Joan of $25 million will help finance the development of transport in the metropolitan r~gion of Bombay, one of India's leading industrial, financial and commercial centers. The Bombay Metropolitan Region covers a land area of more than 4,000 square kilometers, and includes Greater Bombay -- the island city of Bombay and its immediate and extended suburbs. Greater Bombay has a popu- lation of seven million. Transport has Jong been a key factor in Bombay's industrial and commercial growth. About 300,000 of the 1,400,000 jobs in the island city • are held by persons residing in the suburbs and areas outside Greater Bombay . In recent years, however, mass transport capacity has lagged behind demand and the system's performance has deteriorated. Further deterioration could restrict access to the labor market for many of the work force, and constrain economic growth in the region. The Bank Joan will assist in improving the bus service in Greater Bombay and in supporting development planning and traffic management in the Bombay Metropolitan Region. The project is scheduled to be completed in 1980 at a total estimated cost of $50.5 million. The Bank Joan to the Bombay Metropolitan Region Development Authority is for 20 years, including 4-1/2 years of grace. It will carry interest at 8.7% per annum. The Joan wi11 be guaranteed by the Government of India. - 0 - • NOTE: Money figures are expressed in US dollar equivalents. FORM NO. 1 !21 (5-76) T E C HN I CA L DA T A PROJECT: COUNTRY: TOTAL COST: Urban Transport (Bombay) India $50. 53 mi 11 i on • BANK FINANCING: $25 million loan, for 20 years, including 4-1/2 years of grace, with interest at 8.7% per annum. OTHER FINANCING: The Bombay Metropolitan Region Development Authority (BMRDA) The Bombay Municipal Corporation (BMC) The Bombay Electric Supply and Transport Undertaking (BEST) IMPLEMENilNG ORGANIZATION: BMRDA, 18th Floor, New Administrative Office Building, Madame Cama Road, Bombay 400021, India (overall responsibility). BEST (for bus service component): The General Manager, BEST, BEST House, Post Box 192, Bombay 1 (400-001) India. Cable: BEST BOMBAY BMC (for traffic works component): The Municipal Corporation of Greater Bombay. Mahapalik~ Marg., Fort, Bombay 1 (400-001), India. Cable: BOWASEP,BOMBAY PROJECT DESCRIPTION: The project includes--improvement and augmentation of BEST's bus fleet, through the procurement of 700 buses and reJated chassis components; construction and equiopin~ of 3 bus depots and a workshop; execution • of traffic engineering schemes at 40 locations to improve the movement of buses; and the provision technical assistance and training to BEST, BMC and BMRDA. PROCU.REMENT: The procurement of bus chassis, chassis components as we 11 as workshop equipment valued at $17.4 million will be on the basis of international competitive bidding contracts for the supply and mounting of bus bodies will be on the basis of local competitive bidding. Civil works consist of 50 individual contracts for which the possibilities of grouping are limited. It will be on the basis of local competitive bidding. CONSULTANTS: About $1.0 million will be provided for technical assistance and training. ECONOMIC RATE OF RETURN: ESTIMATED COMPLETION DATE: 28% 1980 ':"' 0 - •