Freight corridor to reduce traders transaction cost, spur exports
The Dollar Business Bureau Upcoming dedicated freight corridors, linking various parts of India, will enhance export competitiveness of traders across the country by reducing traffic congestion and transaction cost. The government has formed a company - Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) – to develop a mega commercial railway corridor by 2017. According to experts, the step has strategic importance for the Indian government to regain railways’ lost freight share, decongest existing passenger lines, and accelerate industrial growth. Despite having the world’s largest railways network with 115,000 kms of track route, Indian Railways’ share in freight movement declined from 86% to 35.5% in the last 50 years. The upcoming freight corridor project is expected to give impetus ...
GMR led consortium gets the nod for Eastern Dedicated Freight Corridor railway project
The Dollar Business Bureau A consortium led by GMR Infrastructure Limited has been issued Letters of Award for construction of 417 Km long Eastern Dedicated Freight Corridor railway project at a cost of Rs 5,080 crore on EPC (engineering procurement contract) basis. The project is divided into 2 packages - Package 201 from Mughalsarai to Karchana (near Allahabad) for 180 km and package 202 from Karchana to Bhaupur (near Kanpur) for 237 Km in the State of Uttar Pradesh. The project which is funded by World Bank involves Design and Construction of Civil, Structures and Track Works for Double Line Railway on Design Build Lump Sum Basis and shall be completed in 45 months. Earlier in November 2014, GMR ...
