Financial Daily from THE HINDU group of publications
Tuesday, Sep 28, 2004
Financial Daily from THE HINDU group of publications Tuesday, Sep 28, 2004 |
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Logistics
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Railways $305 m-IBRD aid for Mumbai rail project Our Bureau
New Delhi , Sept. 27 INTERNATIONAL Bank for Reconstruction and Development (IBRD) has earmarked a loan of $305 million (around Rs 1,403 crore) for the rail component of Mumbai Urban Transport Project (MUTP). MUTP will also get an additional credit of $60 million (Rs 276 crore) from International Development Association (IDA), according to an official statement. The estimated cost of the rail component of the MUTP is Rs 3,125 crore. An amount of Rs 127.90 crore has so far been utilised from the loan and credit, said the statement. The MUTP has both road and rail components and is partly funded by the World Bank through a loan of $463 million from IBRD. Additionally, the modernisation of signalling project between Ghaziabad and Kanpur is partly funded by a loan of Deutsche Mark 185 million from Kreditatanstalt fur Wiederafbau (KfW), Germany.
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