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.