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Japan commits 2,606 million yen for Dedicated Freight Corridor Project |
The Government of Japan has
committed an amount of 2,606 million yen for the Engineering Services Loan under
Dedicated Freight Corridor Project (Phase-I). The objective of the project is
to cope with the increase of freight transport demand in India by constructing
new dedicated freight railway system, thereby promoting comprehensive regional
economic development along the freight corridor, through improvement and modernization
of inter-modal logistic system handling considerable freight. The notes to this
effect were exchanged between Kumar Sanjay Krishna, Joint Secretary, Ministry
of Finance and Hideaki Domichi, Ambassador of Japan to India, here today. India
and Japan have had a long and fruitful history of bilateral development cooperation
since 1958. In the last few years relations between India and Japan have steadily
progressed based on India-Japan Global Partnership. The visits of the Indian Prime
Minister to Japan in 2006 and 2008 and the visit of Japanese Prime Minister to
India in 2007 have further strengthened the India-Japan Global Partnership by
adding greater substance to the bilateral relations based on India-Japan Global
Partnership. |
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