Japanese bank lends Rs 300 bn for western freight corridor work

The Indian Railways has roped in a Japanese bank for the funding of Rs 30,000 crore for its dedicated western freight corridor project that will connect Mumbai to Delhi. The ambitious Rs 423,000-crore project involves building of nine large industrial zones, high-speed freight line, three ports, six airports, a six-lane intersection-free expressway connecting Mumbai with Delhi and a 4,000-MW power plant. The project is scheduled to be completed by 2016-17. The 1,490-km project will be executed in two phases.