Cargo Business Newswire

Tuesday, December 16, 2014

World Bank provides $1.1B loan for India infrastructure project

The World Bank will give the government of India a $1.1 billion loan to develop the Eastern Dedicated Freight Corridor, which will speed up the transportation of raw materials and goods between the northern and eastern parts of the nation.

The World Bank had approved the project in April and will be supporting EDFC, which will roll out its total route length of 700 miles in three phases, but with construction overlaps.

While EDFC extends over a length of 1,142 miles from Ludhiana to Kolkata, the EDFC 2 will be 240 miles long from Kanpur-Mughal Sarai section in Uttar Pradesh state.

"We are determined to adhere to the scheduled completion target of Eastern Corridor by December 2019," said DFCCIL managing director Adesh Sharma. "Ninety percent of land acquisition for Kanpur-Mughal Sarai section, for which the loan agreement is being signed today, has been completed, and the contract for the civil works will also be finalized by January 2015. With the finalization of these contracts, the work will be progressing in two-thirds of the total length of the Eastern Corridor."

Besides raising the capacity of the freight lines with increased axle-load limits and speed, the project is also aimed at boosting transportation capacity of Indian Railways.

For more of the LBR story: www.logistics-business-review.com

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