By IANS,
New Delhi : Japan Tuesday committed 2,606 million yen (Rs.130 crore) as an engineering services loan for the first phase of India’s dedicated freight corridor project.
The project is expected to decongest existing railway lines, catalyse industrial investments of around $50 billion (Rs.2.4 trillion) and create new jobs along the rail route.
The commitment was given by Hideaki Domichi, Japanese Ambassador to India.
India had last month approved a Rs.17,700-crore conditional loan from Japan to help build the project.
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