Japanese delegation meets Lalu Prasad
A high-powered Japanese delegation on Tuesday met Railway Minister Lalu Prasad and discussed with him modalities in construction of Dedicated Freight Corridors (DFCs) linking the four metropolis of the country.
By PTI |
NEW DELHI: A high-powered Japanese delegation on Tuesday met Railway Minister Lalu Prasad and discussed with him modalities in construction of Dedicated Freight Corridors (DFCs) linking the four metropolis of the country.
India has announced setting up of four DFCs - Eastern (Delhi-Kolkata), Western (Delhi-Mumbai), South-Western (Mumbai Chennai) and (South-Eastern) Chennai-Kolkata and also linking their diagonals for speedy movement of goods across the country.
The then Japanese Prime Minister Junichiro Koizumi during his visit to India two years ago had offered financial and technical assistance to construct the multi-billion dollar project.
Though the Indian Railways, having surplus of Rs 20,000 crore, has often stated that it was open to arranging finances for the project from international institutions and Indian stock markets, it was actively considering Japanese offer which is ready to provide cheap loans on long terms.
Headed by Minister for Transport, Infrastructure and Land Tetsuzo Fuigushiba, the Japanese delegation is understood to have discussed modalities of financing and technical knowhow. Japanese International Credit Agency has been in touch with the Ministry and the Planning Commission on the issue.
Meanwhile, JICA is doing a survey apparently to prepare a draft on the requirement, while RITES, a public sector undertaking of railways, is also conducting surveys for the first phase of the project - Eastern and Western Corridors.
The mega deal is likely to be signed by the year end when Japanese Prime Minister Shinzo Abe visits India, sources said.
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