French development agency, AFD, plans to invest €700,000 for providing technical know-how to the Indian Railway Station Development Corporation (IRSDC). The funds would initially be given to French Railways, SNCF, which will in turn invest in the Indian rail sector. MD and CEO, IRSDC, SK Lohia, was quoted as saying in a media statement. The technical know-how will be provided by SNCF-Hubs and Connexions as the French agency, has agreed to provide in-kind grant financing through French National Railways (SNCF). This will impose no financial liability on IRSDC or Indian Railways and on this score IRSDC has entered into a tripartite agreement with SNCF and AFD. Minister of State for Railways, Suresh Angadi, said that India and France have a strong and long-standing partnership in the Railways sector and the partners are currently conducting a speed upgradation study for the Delhi-Chandigarh section.
📅Published on:
21 June 2019
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