Latest Construction News

Govt may strike a deal on Rs 72,000-cr rapid rail project

October 2013
India's Rs 72,000-crore rapid rail connectivity project is set to enter the next stage as the Union government and the State governments concerned likely to reach an agreement on cost-sharing of the project. The rapid rail project is to connect Delhi to Panipat (Haryana), Alwar (Rajasthan) and Meerut (Uttar Pradesh). Official sources associated with the project said that the stakeholders in the projects are likely to reach an agreement soon. But each state has its own point of view. The World Bank, Japan International Cooperation Agency and Asian Development Bank had evinced interest in the project. The Union Urban Development Ministry said the soft loan might not be raised from a single agency, but multiple funding sources.