India, Japan agree to implement Phase-I of DFC next year
India and Japan on Tuesday decided to work out all logistical and funding issues related to the western Dedicated Rail Freight Corridor with an aim of implementing its first phase next year.
By PTI |
NEW DELHI: India and Japan on Tuesday decided to work out all logistical and funding issues related to the western Dedicated Rail Freight Corridor with an aim of implementing its first phase next year.
A joint statement issued after talks between Prime Minister Manmohan Singh and his Japanese counterpart Yukio Hatoyama, said the two leaders will work together for conclusion of the agreement for the main loan for the first phase by March 2010.
The main loan amount for the 900-km long first phase of the project from Rewari in Haryana and Vadodara in Gujarat is Rs 17,700 crore, mainly from Japan.
"Both sides will strive for early finalisation of a funding and implementation schedule for the whole western corridor (that covers a distance of 1,483 km from Jawaharlal Nehru Terminal in Mumbai to Tughlakabad in Delhi via Maharashtra, Haryana, Rajasthan and Gujarat.)
"We have decided to finalise all details for phase I within the next few months, so that actual implementation can begin in 2010 itself," Singh said.
"We also endorsed the plan to take the Delhi-Mumbai Industrial Corridor project forward," he said, adding both the projects will have a significant positive impact on the Indian economy and on the scale of economic cooperation with Japan.
The second phase would involve an investment of about Rs 8,424 crore.
A joint statement issued after talks between Prime Minister Manmohan Singh and his Japanese counterpart Yukio Hatoyama, said the two leaders will work together for conclusion of the agreement for the main loan for the first phase by March 2010.
The main loan amount for the 900-km long first phase of the project from Rewari in Haryana and Vadodara in Gujarat is Rs 17,700 crore, mainly from Japan.
"Both sides will strive for early finalisation of a funding and implementation schedule for the whole western corridor (that covers a distance of 1,483 km from Jawaharlal Nehru Terminal in Mumbai to Tughlakabad in Delhi via Maharashtra, Haryana, Rajasthan and Gujarat.)
"We have decided to finalise all details for phase I within the next few months, so that actual implementation can begin in 2010 itself," Singh said.
"We also endorsed the plan to take the Delhi-Mumbai Industrial Corridor project forward," he said, adding both the projects will have a significant positive impact on the Indian economy and on the scale of economic cooperation with Japan.
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The second phase would involve an investment of about Rs 8,424 crore.
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