The World Bank has signed a US$ 975 million loan agreement with the Indian government to set-up the Eastern Dedicated Freight Corridor that will help faster and more efficient movement of raw materials and finished goods between the Northern and Eastern parts of India.
Through the corridors, India will be able to make a quantum leap in enhancing the railways transportation capacity by setting up high-capacity, higher-speed dedicated freight corridors with the Golden Quadrilateral the four rail routes that connect Delhi, Mumbai, Chennai, and Kolkata.
Venu Rajamony, Joint Secretary, Department of Economic Affairs, Ministry of Finance said that the Indian Railways urgently requires to add freight routes to meet the increasing freight traffic in India.
He added that the project also has major contribution in bringing own GHGs and the Government of India is committed to enhancing the share of rail transport in this mix.
Through the corridors, India will be able to make a quantum leap in enhancing the railways transportation capacity by setting up high-capacity, higher-speed dedicated freight corridors with the Golden Quadrilateral the four rail routes that connect Delhi, Mumbai, Chennai, and Kolkata.
Venu Rajamony, Joint Secretary, Department of Economic Affairs, Ministry of Finance said that the Indian Railways urgently requires to add freight routes to meet the increasing freight traffic in India.
He added that the project also has major contribution in bringing own GHGs and the Government of India is committed to enhancing the share of rail transport in this mix.