December 11, 2014

India signs $US 1.1bn freight corridor loan

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Bridge construction on the first phase of the Eastern DFC. Bridge construction on the first phase of the Eastern DFC.

DEDICATED Freight Corridor Corporation (DFCC) finance director Mr M K Mittal and World Bank country director for India Mr Onno Ruhl signed a $US 1.1bn loan agreement in Delhi on December 11, which will finance the 393km second phase of the Eastern Dedicated Freight Corridor (DFC) between Bhaupur and Mughalsarai in Uttar Pradesh.

The World Bank has agreed an in-principle commitment of $US 2.73bn towards the construction of the 1839km double-track electrified line from Ludhiana to Dankuni, which is due to be completed by the end of 2019.

An initial instalment of $US 975m was agreed in May 2011 for the 343km Khurja - Kanpur section of the route.

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