The Asian Development Bank has sanctioned $313.6 million for various railway projects in the country, while the World Bank has provided $463 million for an urban transport project.
"ADB has approved a loan of $313.6 million to finance the rail sector improvement project," Minister of State for Railways B R Patil informed the Lok Sabha on Thursday.
ADB has so far appraised four projects for financing -- Gooty-Pullampet doubling ($66.6 million), Keonjhar-Tomka ($37.7 million), Mahanadi second bridge ($18 million) and Bhatapara-Urkura ($30.9 million), he said.
Apart from ADB, the World Bank has provided $463 million for the Mumbai urban transport project, which has both rail and road component.
World Bank's arm IBRD is providing $305 million for the rail component, while another arm IDA has offered $79 million for the road component. The estimated cost of the project is Rs 3,125 crore (Rs 31.25 billion).
KFW of Germany has extended DM 185 million to finance a project of modernising the signalling system between Ghaziabad and Kanpur. The project will cost Rs 425 crore (Rs 4.25 billion).
Apart from the ADB and World Bank-funded projects, the minister said Railways plan to set up a 250 MW power plant jointly with NTPC for an estimated cost of Rs 4,374 crore (Rs 43.74 billion).
The proposed Bharatiya Rail Bijlee Company, where NTPC would have 49 per cent stake, would enable Railways to save about Rs 400 crore (Rs 4 billion) annually in power costs.
