Japanese bk lends Rs 300 bln for western freight corridor work

The Indian Railways has roped in a Japanese bank for funding of Rs 30,000 crore for its dedicated western freight corridor project that would connect Mumbai to Delhi. The ambitious Rs 4,23,000-crore project involves building of nine large industrial zones, high-speed freight line, three ports, six airports, a six-lane intersection-free expressway connecting Mumbai with Delhi and a 4,000-MW power plant.
Dedicated Freight Corridor Corporation of India (DFCCIL), a special purpose vehicle under the railways ministry, has signed an agreement with the Japan International Cooperation Agency for the project which is scheduled to be completed by 2016-17. The 1,490-km project would be executed in two phases..
The contract work for the civil works and laying tracks has already been awarded.
It is learnt from industry sources that the government is vigorously pursuing the availability of funds for the progress of the projects.
The work for 1,800-km eastern freight corridor that would connect Ludhiana in Punjab to Dankuni in West Bengal has already begun and the government is in advance stage of talks with the World Bank for funding of the project.