The Asian Development Bank, ADB, today committed 120 million USD loan for completion of works for double-tracking and electrification of railways tracks along high-density corridors to improve operational efficiency of Indian railways.
An official statement in New Delhi said the tranche 3 loan is part of the 500 million USD multi-tranche financing facility for Railway Sector Investment Programme approved by the ADB Board in 2011.
The project will help to develop an energy-efficient, safe, and reliable railway system that will result in reduced travel time along project rail routes and improved operational and financial efficiency.
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