You are here: Home » News-IANS » Business-Economy
Business Standard

ADB to lend $120 mn for improving Indian rail infrastructure

IANS  |  New Delhi 

The (ADB) on Friday signed a $120 million loan agreement with to improve operational efficiency of by double-tracking and electrification of tracks along high-density corridors.

The loan is part of the $500 million multi-tranche financing facility for railway sector investment programme approved by the ADB board in 2011.

The loan amount will be used to complete the ongoing works commenced under earlier tranches, a government statement said.

(Multilateral Institutions) said the programme will help develop an energy-efficient, safe, and reliable railway system that will result in reduced along project rail routes and improved operational and financial efficiency.

ADB's added that the funding for tranche three loan will contribute towards achieving the overall program outputs of double-tracking about 840 km of rail routes and electrification of 640 kilometer of tracks along high density corridors.

The investment program is targeting busy freight and passenger routes in the states of Chhattisgarh, Odisha, Maharashtra, and Andhra Pradesh, including the Golden Quadrilateral corridor that connects Chennai, Kolkata, and

--IANS

vv/vd

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, March 16 2018. 19:04 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU