The Asian Development Bank (ADB) recently signed a $120 million funding agreement with India to improve operational efficiency of Indian railways by double-tracking and electrification of tracks along high-density corridors. The loan amount will be used to complete the ongoing works commenced under earlier tranches, Department of Economic Affairs Joint Secretary (Multilateral Institutions) Sameer Kumar Khare said, reiterating that the program will help develop an energy-efficient, safe, and reliable railway system that will result in reduced travel time along project rail routes and improved operational and financial efficiency. ADB‘s India Resident Mission Country Director Kenichi Yokoyama said 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 crisscrossing Chhattisgarh, Odisha, Maharashtra, Karnataka, and Andhra Pradesh, including the Golden Quadrilateral corridor that connects Chennai, Kolkata, Mumbai, and New Delhi.
📅Published on:
20 March 2018
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