By NNN-PTI
New Delhi : Indian Railways, one of the largest rail networks in the world, is likely to become even larger as the country is considering an ambitious programme of around 800 million dollar, to be co-funded by the multilateral agency, Asian Development Bank (ADB).
The Railway Investment Programme, to be funded by the Japan Special Fund, ADB and India, will include doubling of the existing tracks on critical routes traversing the states of Maharashtra, Karnataka, Andhra Pradesh, Orissa and Chhattisgarh.
“Doubling rail tracks on critical routes would increase the physical infrastructure, while the use of modern signaling systems that can raise the capacity of the existing tracks would improve efficiency,” said Prodyut Dutt, Senior Transport Specialist of ADB’s India Resident Mission in a release here.
The programme is being considered at a time when barely a month is left for annual railway budget.
The programme will also include electrification of lines passing through Maharashtra, Karnataka and Andhra Pradesh.
The Japan Special Fund is providing a grant of 1 million dollars for the programme, while India will pitch in with 2,50,000 dollars in logistical support.
The programme could involve an ADB loan of 500 million dollars in the total project cost of more than 800 million dollars, according to the Manila-based multilateral agency’s release here.
Railways are a significant component of India’s transport sector. In 2006, the railways carried 5.73 billion passengers and 666.51 million metric tons of freight, up 6.5 per cent and 10.7 per cent, respectively from the previous year.