World Bank Funds Indian Suburban Rail Project

5 July 2010 (Last Updated July 5th, 2010 18:30)

The World Bank has approved a loan of $430m to finance the Mumbai urban transport project in India. The state government of Maharashtra and Indian Railways are expected to raise additional funds for the project, which is estimated to cost INR530bn ($11bn). The first phase will inc

The World Bank has approved a loan of $430m to finance the Mumbai urban transport project in India.

The state government of Maharashtra and Indian Railways are expected to raise additional funds for the project, which is estimated to cost INR530bn ($11bn).

The first phase will include the procurement of rakes for suburban railways, station improvements, resettlement and rehabilitation.

The project will also add 720 train cars, expand maintenance facilities and provide additional stabling lines in the suburban areas of Mumbai.

Once completed the railway system will reduce peak hour traffic, shorten journey times and improve operational efficiency.