After showing keen interest in upcoming locomotive projects in Bihar, the Chinese have thrown their hats in the ring for the ambitious Dedicated Freight Corridor (DFC) project.
China Railway Bureau Group Corporation is among 16 international companies which have qualified for participating in the bidding process for laying track in the 400 km long project in the Eastern DFC.
Besides China, companies from Spain, Turkey, Korea, Taiwan, Mexico, Brazil, Russia and UK are among those who have qualified to join the race in laying track in the Bhaupur-Mughalsarai section, said a senior Railway Ministry official.
World Bank has agreed in principle to part finance the Eastern DFC project from Mughalsarai to Ludhiana, which has been divided into 3 phases.
The total in-principle loan commitment is USD 2.725 billion, out of which the loan for the first phase to the tune of USD 975 million was sanctioned in May, 2011 and the loan agreement was signed in October, 2011.
The loan for the second phase is expected to be in the tune of USD 1100 million and an agreement is likely to be signed in June.
DFC Corporation, a Special Purpose Vehicle, is engaged in planning, construction, operation and maintenance of the dedicated freight corridors and in the first phase, the two corridors, namely, Eastern Corridor from Ludhiana to Dankuni (1839 km) and the Western Corridor from Dadri to Jawaharlal Nehru Port (JNPT) (1499 km) are being constructed.
The entire Western Corridor is being funded by Japan International Cooperation Agency.
