Millennium Post

DFCCIL inks $1,100-million loan pact with World Bank

The Dedicated Freight Corridor Corporation of India (DFCCIL) and World Bank has signed loan agreement of $1,100 million for second phase for construction of 393 km long electrified double line between Mughalsarai-Bhaupur section of Eastern Dedicated Freight Corridor. The agreement was signed by DFCCIL Director/ Finance MK MIttal, (MI) Joint secretary Tarun Bajaj  and World Bank Country Director Onno Ruhl in the presence of DFCCIL MD Adesh Sharma.

It may be recalled that the World Bank has agreed in principle to part finance the Eastern Corridor project from Mughalsarai to Ludhiana, which has been divided into 3 phases.  The total in principle loan commitment is $2.725 billion, out of which the loan for the first phase EDFC-I amounting $ 975 million was sanctioned in May, 2011 and the loan pact was signed in October, 2011.
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