JICA offers India with additional Rs 6,000 cr loans for Western DFC

Posted by Daily Shipping Times on 19-09-2017        Tweet

NEW DELHI: Japan International Cooperation Agency (JICA) has signed an agreement with the Government of India to provide a development assistance loan of Rs 6,000 crore to procure 200 electric locomotives for the Western Dedicated Freight Corridor (WDFC) Project.

With this, JICA has so far extended concessional official development assistance loans of about Rs 26,000 crore for development of the Western DFC Project. The loan is offered at a rate of 0.1 per cent for project activities with 30 years of repayment period, including 10 years of grace period. JICA is currently supporting the construction of civil and track works, electrification, including signalling and telecommunication system for the WDFC between Delhi and Mumbai.

Takema Sakamoto, Chief Representative, JICA India office said, “JICA is fully committed towards the construction and completion of this initial logistical infrastructure of the DMIC. The DFC project will enhance freight capacity, making it a revolution for the industrial corridor. JICA will continue to play an important role in the development of WDFC and will provide necessary assistance in the near future as well.”

The project will focus on constructing approximately 1,500-kilometer track of the Western Corridor between Delhi and Mumbai, connecting major cities in the States of Maharashtra, Gujarat, Rajasthan and Haryana, as well as introducing new electric locomotives capable of high-speed and high-capacity transportation.