English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

New loan for India's railways

NEW DELHI: India has signed a second loan agreement with the World Bank to continue building a freight-only rail line linking Ludhiana in the north and Kolkata in the eastern area of the country.

Railways-and-the-DFCCIL-sign-an-MoU June9The World Bank loans totaling US$2.075 billion are for India's Eastern Dedicated Freight Corridor (EDFC) - designed to improve the movement of raw materials and finished goods between both sides of the sub-continent while alleviating pressure on existing passenger rail networks.

The EDFC is part of India's plan to build two high-capacity, higher-speed dedicated freight corridors along the country's 'Golden Quadrilateral' that currently connects Delhi, Mumbai, Chennai and Kolkata and carries more than 60 percent of India's total rail freight.

The plan is a counterbalance to the rapid growth of road transport since the 1990s that now accounts for 65 percent of the country's freight market. Construction of a 343 km section from Khurja to Kanpur is already under way following a contract award by the Dedicated Freight Corridor CDFCC India1orporation (DFCCIL) to Tata-Aldesa, a joint venture between Tata Projects India and Aldesa of Spain.

"Implementing the Dedicated Freight Corridor program will provide India the opportunity to create one of the world's largest freight operations, adopting proven international technologies and approaches which can progressively be extended to other important freight routes throughout the network," said Onno Ruhl, the World Bank country director in India.

"The project will play a transformational role by reducing greenhouse gas emissions as a result of promoting transfer of freight from road to rail. It will also serve as a catalyst for accelerating economic development in the relatively poor state of Uttar Pradesh through which the line passes. We hope this will lead to communities along the corridor having better access to employment opportunities, health, education and other social services," he added.

In addition to establishing seven integrated manufacturing clusters using the EDFC as a backbone, DFCCIL says the Eastern corridor is estimated to produce a total of 10.48 million tons of greenhouse gas emissions to 2042 – compared to 23.29 million GHG if the expected seven percent per annum increase in the country's total freight traffic is all consigned by truck.

"DFCCIL will be the game changer in the Indian transport sector by providing a cheaper, quicker and safer mode of freight," said Adesh Sharma, DFCCIL managing director. "We are determined to adhere to the scheduled completion target of [the] Eastern Corridor by December 2019," he added.

News

Written on 23/06/2017, 20:22
xpo-hit-by-port-strikeLOS ANGELES/LONG BEACH: June 23, 2017. Port and rail drivers working as independent contractors for XPO Cartage, part of XPO Logistics, began a strike...
Written on 21/06/2017, 22:44
more-disasters-but-less-moneyGENEVA: June 21, 2017. The United Nations says it needs US$23.5 billion in 2017 to provide humanitarian assistance to a record 141 million people in 37...
Written on 21/06/2017, 20:19
switzerland-remains-the-world-s-most-innovative-countryGENEVA: June 21, 2017 – Switzerland, Sweden, the Netherlands, U.S. and UK are the world's most innovative countries according to a new report by produced...
Written on 21/06/2017, 16:53
fedex-and-ups-among-best-civic-minded-u-s-companiesSEATTLE: June 21, 2017. FedEx and UPS are among the 50 most community-minded companies in the United States according to the latest 'Civic 50' list from...
Written on 16/06/2017, 20:37
eu-commercial-drones-by-2019-says-commissionBRUSSELS: June 16, 2017. The European Commission says commercial drones flying in a 'U-Space' under 150 meters from the ground will be operate in the EU...
Written on 16/06/2017, 19:00
collaboration-and-compromise-key-to-uk-trade-futurePARIS: June 15, 2017. The OECD is forecasting a 1.7 percent rise in UK GDP this year and just 1.0 percent in 2018 as uncertainty rises of Britain not...
Written on 16/06/2017, 15:01
amazon-to-buy-bricks-and-mortar-grocer-for-us-13-7-billionSEATTLE: June 16, 2017. Amazon has agreed to buy Texas-based Whole Foods Market (WFM) for US$13.7 billion including debt. WFM reported Q2 2017 net sales...
Written on 15/06/2017, 20:35
amazon-to-sell-cars-in-britain-delivered-by-emirates-skycargoLONDON: June 14, 2017. Amazon is hiring automotive experts as a prelude to selling cars in the UK according to eCommerce delivery company Parcel...
Written on 12/06/2017, 16:13
qatar-airways-adds-dublin-as-profits-riseDOHA, Qatar: June 12, 2017. Despite continued uncertainty in Qatar following political and economic sanctions imposed by neighboring GCC countries, Qatar...
Written on 09/06/2017, 16:35
spanish-port-strike-continuesBARCELONA: June 09, 2017. Some 6,000 Spanish dockworkers are expected to continue their strike action until June 24 unless a meeting between their union...
Written on 07/06/2017, 01:08
we-are-still-in-say-u-s-states-and-businessesWASHINGTON, DC: June 05, 2017. Ignoring Donald Trump, 1,219 governors, mayors, businesses, investors, colleges and universities in the U.S. have declared...
Written on 06/06/2017, 19:35
iata-repeats-call-for-trade-freedomCANCUN, Mexico: June 06, 2017. IATA's 73rd annual general meeting has called on governments to implement the World Trade Organization's (WTO) Trade...
Written on 05/06/2017, 20:34
qatar-cargo-to-operate-perishables-airliftDOHA: June 05, 2017. The Qatar Cargo weekly A330 freighter service to London Heathrow that began on June 03 could be part of a food airlift if the Saudia...
Written on 01/06/2017, 20:52
u-s-not-so-competitiveLAUSANNE, Switzerland: May 31, 2017. The United States is no longer one of the top three competitive countries in the world according to a new 63-country...
Written on 01/06/2017, 18:57
rickmers-group-files-insolvency-following-bank-moveHAMBURG: June 01, 2017. The Rickmers Group has declared insolvency following the rejection by HSH Nordbank of a proposed financial restructuring. Last...
Written on 01/06/2017, 14:07
exxon-mobil-low-carbon-future-as-trump-pulls-climate-plugBOSTON, MA: June 01, 2017. As expected, Donald Trump has announced the United States is withdrawing from the Paris Agreement on climate change, despite...
Written on 26/05/2017, 16:16
powerful-future-ahead-for-madagascarPORT LOUIS, Mauritius. May 24, 2017. Volga-Dnepr Airlines has now completed a series of flights begun in March to deliver power generators from Mauritius...
Written on 25/05/2017, 20:07
rhinos-return-to-rwandaAKAGERA, Rwanda: May 25, 2017. Ten years after the Eastern black rhino disappeared from Rwanda following decades of poaching, 19 animals have now taken up...
Written on 25/05/2017, 18:33
port-everglades-gets-expansion-go-aheadPORT EVERGLADES, FL: May 24, 2017. Port Everglades is to invest US$437.5 million to add new berths for larger cargo vessels and install crane rail...
Written on 24/05/2017, 20:42
hapag-lloyd-takes-a-big-step-with-uascHAMBURG: May 24, 2017. Hapag-Lloyd and the United Arab Shipping Company (UASC) have completed their merger. Shareholders at the annual general meeting on...

- powered by Quickchilli.com -