Japan International Cooperation Agency has extended a cumulative total of 464,267 million Japanese yen (approximately Rs 33,000 crore) in official development assistance for the Western Dedicated Freight Corridor project up to now, the agency said on Thursday.
The remarks by Katsuo Matsumoto, Chief Representative, JICA India, came at an event at which Prime Minister Narendra Modi dedicated the 306-km New Rewari-New Madar section of the Western Dedicated Freight Corridor (WDFC) to the nation.
Suzuki Satoshi, Ambassador of Japan to India, attended the ceremony and flagged off this project together with other dignitaries, a statement issued by JICA said.
Japan has been providing funds and expertise for the dedicated freight railway system having route length of approximately 1,500 km, which has been constructed, under the Western Dedicated Freight Corridor project, along the Industrial Corridor between Dadri-Delhi and Mumbai.
"Western Dedicated Freight Corridor project is an important venture of 'Delhi-Mumbai Industrial Corridor (DMIC) initiative'," Satoshi said.
This project is an epitome of Japan-India collaboration for comprehensive infrastructure development, he said, adding that it creates India's largest industrial belt zone by linking industrial parks and harbours of six states between Delhi and Mumbai in order to promote trade, foreign export and direct investment.
Speaking on this occasion, Matsumoto said, "JICA is committed towards the development of infrastructure in India. Western Dedicated Freight Corridor project is one of the most important JICA supported projects, covering the areas between Dadri in Uttar Pradesh and Mumbai where significant commercial and industrial development is seen."
"By meeting the higher growth rate expected by seamless freight transportation in these areas and optimizing distributing networks, the Project will make a far-reaching contribution towards India's economic development," he said.
JICA has extended a cumulative total of 464,267 million Japanese yen in ODA loans (approximately INR 33,000 crore) for Western Dedicated Freight Corridor project up to now, he said.
JICA is further exploring the possibility of continuing its assistance for this project so as to support this project and help India's efforts on modernization of freight transportation, Matsumoto said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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