Chinas EXIM bank signs $1.5 bn electrification deal with Iran
The Dollar Business Bureau China’s EXIM bank has signed a $1.5 bn worth of contract to finance the electrification of nearly 1000 km of high-speed track between Tehran and Iran’s second largest city Mashhad. This deal is a part of China’s One Belt One Road (OBOR) initiative aimed at building the infrastructure needed to connect Beijing with Western Europe, Russia, Middle East and other regions in the initiative. Though initially the deal was reported to be more than $2 billion, both the parties have not clarified why the funding has decreased. The Teheran-Mashhad railway electrification project is a part of the wider set of projects that Iran needs to modernise its infrastructure. In a briefing to the media, the Iranian Deputy Transport minister, Asghar ...
Focus on improving railways infra for seamless traffic movement: Prabhu
The Dollar Business Bureau In order to create a proper logistics environment and seamless movement of traffic in the country, Ministry of Railways is focussing more to improve the railways infrastructure and also to speed-up the pace of infrastructure development, said Railways Minister Suresh Prabhu on Thursday. “Railway Ministry is focussing more on improving the infrastructure of Indian Railways to create a proper logistics and seamless movement of traffic,” said Prabhu at an event organised by ASSOCHAM in New Delhi. “Therefore, we have decided to create an infrastructure at much faster pace. Already we are creating infrastructure twice to speed than previous year and will increase every year,” he added. Citing the Ministry’s achievement, Prabhu said that his ministry has sanctioned around 16,500 ...
Govt keen on electrifying all villages by May 2017
The Dollar Business Bureau Power Minister Piyush Goyal said the government will provide electricity connection to all the villages by May 2017, about a year before the 1000-day deadline established by Narendra Modi-led government. He also announced soft loans for states for undertaking this mission. "Electrification of villages have slowed down during the last couple of months due to rain. After my discussion with the states during these two days, I am confident that all the villages will get electricity connections by May 1, 2017, which is one year before the 1000-day deadline set by our government, which ends in May 2018," Goyal said, addressing the two-day Conference of Ministers for Power, New & Renewable Energy & Mines of States & Union Territories. "The ...
