CCEA gives nod to 9 rail projects worth Rs.24,000 cr
The Dollar Business Bureau In a major push to boost the Indian infrastructure sector, the Cabinet Committee on Economic Affairs (CCEA) led by the Prime Minister Narendra Modi has approved nine projects worth Rs.24,374.86 crore for the expansion of railway network and connectivity in nine states of the country. In order to achieve a capacity to transport goods worth 1.5 billion tonnes per annum through rail network by 2020, the CCEA has given final nod to the nine projects at an estimated cost of Rs 24,374.86 crore. These projects will be completely financed from Life Insurance Corporation of India (LIC). The projects are located on the North-South and East-West corridors of the Golden Quadrilateral. The railway network here is almost choked, while the operational capacity ...
Dedicated Freight Corridor project will be completed in time: Minister
The Dollar Business Bureau Indian Railways is confident that its most ambitious project - ‘Dedicated Freight Corridor (DRC)’ will be completed in time i.e. by 2019. Manoj Sinha, Minister of State (Railways) said, “Prime Minister Narendra Modi wants the two dedicated freight corridors, west and east, completed in time, even as the government is planning for more such lines.” He assured the industry that despite several problems being faced in this initiative, the railways had “full confidence” of completing them in time and added that the Allahabad-Mughalsarai sector of the eastern corridor would be completed faster. The project is worth Rs 81,459 crore and the work is expected to complete in two phases between 2017 to 2019. While inaugurating an ASSOCHAM conference on ...
India and South Korea sign MoU on technical cooperation in rail sector
The Dollar Business Bureau | @TheDollarBiz Ministry of Railways is targeting total freight loading of 1,101 million tonnes in FY2014-15 South Korea will cooperate with India and provide its technical expertise to modernise the Indian railways under a Memorandum of Understanding (MoU) signed between India’s Ministry of Railways and the Ministry of Land Infrastructure and Transport (MOLIT) of South Korea in Seoul today. Arunendra Kumar, Chairman, Railway Board represented India during the signing of the MoU, while the Korean side was represented by Yeo Hyung Koo, Vice-Minister, MOLIT. India’s Ministry of Railways said in an official statement, "The MoU would enable technical assistance and cooperation between the Railways of the two countries on areas such as High Speed Rail, Modernisation ...
