JICA grants ODA loan of Rs. 8,553 crore for dedicated freight corridor.

Japan International Cooperation Agency (JICA) has signed an agreement with the Government of India to provide an Official Development Assistance (ODA) loan of about Rs. 8,553 crore (1,30,000 million Japanese Yen) for the Dedicated Freight Corridor (DFC) Project (Phase 1) (IV).

Dedicated Freight Corridor Corporation of India Limited (DFCCIL) is the executing agency of the project.

The objective of the project is to promote comprehensive regional economic development along the freight corridor as the backbone of Delhi-Mumbai Industrial corridor (DMIC) development plan.

Katsuo Matsumoto, chief eepresentative, JICA India said, “JICA is committed towards the development of infrastructure in transportation sector. It will help to promote comprehensive regional economic development along the freight corridor in DMIC area.”

In phase 1, a 950km freight line (Rewari to Vadodara) connecting the major cities in Gujarat, Rajasthan, and Haryana states has been constructed.

ET