India: Tamil Nadu Road Sector Project [ADDITIONAL FINANCING]

March 30, 2010

IBRD Loan: US$50.7 million

TERMS: Maturity = 25 years; Grace = 5 years

Project ID: P118981

Project Description: The Additional Financing for the Tamil Nadu Road Sector Project for India aims to improve the quality and sustainability of the core road network of Tamil Nadu. The project has experienced significant cost overrun. The cost overrun is primarily due to: (a) increased costs of the upgrading works due to increase in the prices of construction materials and delays in execution of contracts, (b) appreciation of Indian Rupee vis-a-vis the US Dollar, and (c) addition of a Tsunami affected bridge for which amendment to the Loan Agreement was carried out.

Media Contacts
Erik Nora
Tel : (202) 458-4735