Indian Railways seeks ADB loan for double tracking project
Indian Railways is seeking a $500 million loan from the Asian Development Bank to double track lines in key corridors that link five Indian states.
The request comes as the railways wants to expand capacity through Maharashtra (home to Mumbai), Karnataka (home to Bangalore), Andhra Pradesh (home to Hyderabad), as well as the industry-heavy states of Orissa and Chhattisgarh.
The total cost of the project to double track the lines would be about $800 million, the Hindu Business Line reported Wednesday.
