You are here: Home » Economy & Policy » News
Business Standard

16 pre-qualify for east freight corridor contract

Essar, Gammon, Posco among companies who have qualified

BS Reporter  |  New Delhi 

Freight factor

Essar, Gammon, Posco and China Railway Bureau Group were among the 16 international companies in a venture with Indian companies to pass the pre-qualification bid process for the civil structure and track work contract for the Bhaupur-Mughalsarai section (400 km) of the Eastern Dedicated Freight Corridor project.

Other international companies from Spain, Turkey, Taiwan, Mexico, Brazil, Russia and UK had filed their bids with Indian partners. Some joint ventures were Isolux Corsan Corviam-Sadbhav-ECI, Gammon-Yuksel, Posco-PNC, Consortium of China Railway Bureau Group Corporation, Essar-KEC Sacyr, AG-Afcon and PEL-BSCPL-CGS.

The contract is expected to be Rs 4,000 crore (Rs 10 crore a km).

The World Bank is funding part of the Eastern Dedicated Freight Corridor from Mughalsarai to Ludhiana, divided in three phases. The loan is $2.7 billion. The loan for the first phase, $975 million, was sanctioned in May 2011. For the second, it is expected to be $1,100 million.

It may be signed in June.

First Published: Sat, February 15 2014. 00:45 IST
RECOMMENDED FOR YOU