April 25, 2014

Funds approved for Indian Freight Corridor

Written by  Raghav Thakur
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THE World Bank has sanctioned a second loan of $US 1.1bn for construction of the 393km Mughalsarai - Bhaupur section of India's Eastern Dedicated Freight Corridor (DFC).

Of the World Bank's $US 2.7bn total loan commitment to part-finance the Eastern DFC project between Mughalsarai and Ludhiana, the first tranche of $US 975m was sanctioned in May 2011. The loan agreement for the second phase is expected to be signed in June.

Dedicated Freight Corridor Corporation of India (DFCCIL), a special purpose vehicle, is engaged in planning, construction, operation and maintenance of the 1839km long Eastern DFC from Ludhiana to Dankuni as well as the 1499km Western DFC from Dadri to Jawaharlal Nehru Port. The entire Western DFC is being funded by Japan International Cooperation Agency (Jica).

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