New Delhi: The JICA (Japan International Cooperation Agency) has signed an agreement with the government of India to provide a development assistance loan of Rs 6,000 crore (approx US$ 937.5 Million) 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 (approx US$ 4062.5 Million) 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.
- Currently, JICA is supporting the construction of civil & track works, electrification, including signalling & telecommunication system for the WDFC between Delhi & Mumbai.
- “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,” said Takema Sakamoto, chief representative, JICA India office.
- The project will focus on constructing around 1,500 km track of the Western Corridor between Delhi & Mumbai, connecting major cities in the states of Maharashtra, Gujarat, Rajasthan & Haryana, as well as introducing new electric locomotives capable of high-speed & high-capacity transportation.