The Hindu Business Line : Govt seeks $500-m ADB loan for Railways expansion

New Delhi, Feb. 5 The Government has sought a $500-million loan from Asian Development Bank (ADB) for part financing $800 million railway expansion project.

The investment programme will include plans to double the existing rail tracks in cities on critical routes traversing Maharashtra, Karnataka, Andhra Pradesh, Orissa, and Chhattisgarh, and to enhance the capacity and efficiency of the Indian Railways. The programme also will include electrifying other lines passing through Maharashtra, Karnataka, and Andhra Pradesh.

In a press release, ADB stated that the Government of India asked the Asian Development Bank to prepare the Railway Sector Investment Programme for possible ADB financing of the railway expansion project, which could involve an ADB loan of $500 million and a total project cost of more than $800 million.

“Doubling rail tracks on critical routes would increase the physical infrastructure, while the use of modern signalling systems that can raise the capacity of the existing tracks would improve efficiency,” said Mr Prodyut Dutt, Senior Transport Specialist of ADB’s India Resident Mission.

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