It is reported that the government of Japan has committed an amount of JPY 2,606 million for the engineering services loan under the dedicated freight corridor project Phase I.

As per report 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 Mr Kumar Sanjay Krishna joint secretary ministry of finance and Mr Hideaki Domichi, Ambassador of Japan to India.

(Sourced from Business Line)