Japanese bank to survey railway freight corridor

July 8th, 2008 - 10:49 pm ICT by IANS  

New Delhi, July 8 (IANS) The Japanese Bank for International Cooperation (JBIC), which is partly funding the Rs.350 billion ($8 billion) western freight corridor of the Indian Railways, would survey the project, said railway officials Tuesday. An eight-member JBIC team, which met railway officials here, will look at all aspects concerning the project, including environment and social concerns, and analyse the situation.

“The JBIC team will be here for over four months. It will survey the corridor stretch and look into various aspects concerning the project,” said a railway spokesperson.

In the meeting with railways’ infrastructure advisor Pradeep Bhatnagar and other senior officials, the bank representatives said JBIC would fund only the western arm of the freight corridor.

Railway authorities are now trying to woo other investors and also discussing alternative sources of financing for the eastern corridor from Delhi to Kolkatta, said an official.

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