Application close date

05/15/2026

Title

Transport Economist Consultant

1. Project Background

The state of Maharashtra is the richest, second most populated, highly industrialized, developed, and urbanized state of India and the Indian Government. The state now aspires to be India’s first state to be a US$ one trillion economy by 2030. The development of a high-class road network is considered a key priority towards realizing this vision and will be critical for ensuring that this growth is inclusive. The state has made good progress through the development of the Core Road Network (CRN) connecting key economic growth corridors and through the PMGSY to develop a Core Rural Road Network (CRRN). Significant progress has been made to date on developing both state highways and rural roads but there are still many parts of the road network that are underdeveloped, low in quality and in poor condition.

2. Objectives of the Assignment

The Asian Infrastructure Investment Bank (AIIB) is seeking an individual consultant to conduct economic analysis for two road projects in Maharashtra including:Upgradation of Rural Roads under MMGSY (Mukhaya Mantri Gram Sadak Yogna) Maharashtra Road Upgradation project (State Highways) under the Public Works Department (PWD) of the Government of Maharashtra.

3. Scope of Services

AIIB is a major funder of both projects is working with MMGSY and PWD to appraise the projects in line with the banks fiduciary obligations, its procurement standards and its environmental and social framework. The objective of the assignment is to support AIIB’s project appraisal by preparing robust, transparent, and defensible economic and financial analysis in line with international multilateral development bank (MDB) standards and applicable sector good practice. AIIB is seeking an individual consultant to conduct the Economic and Financial analysis for the project to support the appraisal stage in line with international MDB standards. The specific scope of the work includes (for both the rural roads and the state highways projects): 1. Review, quality assure and validate the underlying evidence base including traffic surveys, traffic forecasts, prior feasibility studies, capital, operating and maintenance cost assumptions. This should also include scrutinizing prior parameters used in the analysis in line with global best practice. Based on this data and information a methodology for conducting the economic analysis should be developed. Consideration should be given as to whether the Highways Development Model 4(HDM-4) should be used.2. Using prior data and the developed methodology, update prior demand forecasts and economic analysis to capture a range of economic benefits, economic costs and calculating the Economic and the Financial Internal Rate of Return. The benefits that should be captured include:-Travel time savings-Vehicle operating cost savings -Accident reduction benefits-Environmental benefits/disbenefits, including GHG emission accounting -Any other relevant considerations or benefits3. Conduct sensitivity tests on this analysis to test the robustness of the results in a range of scenarios.4. The economic consultant should summarize their analysis in a detailed report setting out the methodology, calculations, data sources, results and sensitivities. A summary of benefits that could not be quantified should also be provided.

3. Scope of Services (Continued)

(No Value)

4. Consultancy Output / Deliverables

Tentative Milestone DateDesign Project Review Report (both projects) 30 MayConcept sign-off (both projects) End JuneEconomic Analysis due (both projects) Mid-JulyAppraisal Approval Point (both projects) Mid-Aug

4. Consultancy Output / Deliverables (Continued)

(No Value)

5. Implementation Arrangement

Work directly with the Project Team Lead.

5. Implementation Arrangement (Continued)

(No Value)

6. Support to the Consultant by the Bank

Travel arrangements

7. Knowledge Transfer and Training

NA

Qualification Requirement

1. Advanced Degree in Transportation Economics or equivalent2. Regional Experience, particularly Maharashtra 3. Minimum 15 years of experience 4. Completed Projects as Transport Economist, preferably experience in funded (MDB) projects 5. Experience Outside Home Country is preferable

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