This is the third part of the $500m approved bythe ADB for the programme. Credit: Asian Development Bank.

The Asian Development Bank (ADB) has signed a $120m loan agreement with the Government of India to fund double-tracking work and the electrification of railway tracks across high-density corridors in the country.

It is the third tranche of the $500m financing facility approved by ADB for the Railway Sector Investment Program in 2011.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The loan will support the ongoing improvement works which are expected to improve the operational efficiency of the Indian rail network.

ADB India country director Kenichi Yokoyama said: “Funding for the project’s third tranche will contribute toward achieving the overall programme outputs of double-tracking about 840km of rail routes and electrification of 640km of tracks along high-density corridors.

“The programme is also helping implement new accounting systems and provide additional safety measures, including collision avoidance equipment.”

“The funding will contribute toward achieving the overall programme outputs of double-tracking about 840km of rail routes and electrification of 640km of tracks.”

The investment programme will cater to the busy freight and passenger routes in the states of Andhra Pradesh, Karnataka, Maharashtra, Chhattisgarh and Odisha.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The rail track duplication works will be carried out along the Daund-Titlagarh section, Sambalpur-Titlagarh section, Raipur-Titlagarh Section and Hospet-Tinaighat section, while the 641km-long Pune-Wadi Guntakal section will be electrified.

The Indian Finance Ministry’s Department of Economic affairs Joint Secretary Sameer Kumar Khare said: “The programme will help develop energy efficient, safe, and reliable railway systems that will result in reduced travel time along project rail routes and also reduce annual accident rate.”

The ADB, based in Manila, Philippines, aims to reduce poverty in Asia and the Pacific through environmentally stable economic growth and regional integration. Established in 1966, it is owned by 67 members, 48 of which are from the Manila region.