Japan to Fund Delhi-Mumbai Corridor Despite Crisis

[SpArK]

Japan to Fund Delhi-Mumbai Corridor Despite Crisis
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Notwithstanding the tragedy suffered by it, Japan has conveyed to India that its assistance and partnership to projects like Delhi-Mumbai Industrial Corridor (DMIC) and Dedicated Freight Corridor(DFC) would continue as per the plans.

The assurance was conveyed during the visit of Foreign Secretary Nirupama Rao to Tokyo last week, sources said.

"Japan has told us that it has all reasons to go ahead with DMIC and DFC," the sources said while discounting apprehensions that such major projects being constructed with Japanese cooperation may be hit.

There is also no indication that its assistance to India would be cut. Japan is the largest contributor of Overseas Development Assistance (ODA) to India.

Japan suffered devastation from tsunami last month and is in the process of reconstruction.

The sources said Japan feels that continuance of projects like DMIC and DFC would go on to help its own economy.

DMIC is a mega infra-structure project that will cost USD 90 billion with the financial & technical assistance from Japan. The ambitious project will cover an overall length of 1483 KMs between India and Mumbai passing through various states.

A MOU was signed in December 2006 between Vice Minister, Ministry of Economy, Trade and Industry (METI) of Government of Japan and Secretary, Department of Industrial Policy & Promotion (DIPP). A Final Project Concept was presented to both the Prime Ministers during the then Japanese Prime Minister Abe's visit to India in August 2007.

Subsequently, Government of India has announced establishing of the Multi-modal High Axle Load Dedicated Freight Corridor (DFC) between Delhi and Mumbai, covering an overall length of 1483 km and passing through the six states - Uttar Pradesh, Delhi, Haryana, Rajasthan, Gujarat and Maharashtra, with end terminals at Dadri near Delhi and Jawaharlal Nehru Port near Mumbai.

Distribution of length of the corridor indicates that Rajasthan (39 per cent) and Gujarat (38 per cent) together constitute 77 per cent of the total length of the alignment of freight corridor, followed by Haryana and Maharashtra - 10 per cent each - and Uttar Pradesh and National Capital Region of Delhi - 1.5 per cent of total length each.

This Dedicated Freight Corridor envisages a high-speed connectivity for High Axle Load Wagons (25 Tonne) of Double Stacked Container Trains supported by high power locomotives.

The Delhi-Mumbai leg of the Golden Quadrilateral National Highway also runs almost parallel to the Freight Corridor.

This corridor will be equipped with an array of infrastructure facilities such as power facilities, rail connectivity to ports en route etc. Approximately 180 million people, 14 per cent of the population, will be affected by the corridor’s development.
FILED ON: APR 15, 2011 19:33 IST

news.outlookindia.com | Japan to Fund Delhi-Mumbai Corridor Despite Crisis



Now let the talks on aid begin.

 

[Sayonara]

i think japan is in desperate times, india should morally ask japan to use funds on its public, instead of begging for more money

 

[SpArK]

 

[harsh1488]

i think japan is in desperate times, india should morally ask japan to use funds on its public, instead of asking for more money

its japans money,their decision

 

[SpArK]

 

[Mech]

Why do they assist financially when their needs are so much greater? I think india has the economic clout to allocate funds for this project? I agree india could certainly use the expertise. Can someone shed some light on this? Possible motivations for such a decision?

 

[Nirvana]

i think japan is in desperate times, india should morally ask japan to use funds on its public, instead of begging for more money

Stupid , first Read the Article , we are not Begging for Money - They have conveyed to us that project will not be hit By the Current crisis.

 

[Mech]

Hearing such news leads me to believe the west is 'really' trying to pit us against china. While development is nice, i cant help but wonder.

 

[divya]

i think japan is in desperate times, india should morally ask japan to use funds on its public, instead of begging for more money

its not aid money for fighting someone else war... There is something called investment hope you know the meaning that there is diffrence between investment and aid

 

[SpArK]

 

[bhagat]

i think japan is in desperate times, india should morally ask japan to use funds on its public, instead of asking for more money

They are not aiding. They are investing in the infrastructure project...It's good for them also...

 

[Sayonara]

They are not aiding. They are investing in the infrastructure project...It's good for them also...

it clearly says 'fund'... open your eyes please

---------- Post added at 07:37 PM ---------- Previous post was at 07:36 PM ----------

its not aid money for fighting someone else war... There is something called investment hope you know the meaning that there is diffrence between investment and aid

if it was investment, it should be mentioned in the article, its aid, japan is giving aid, they have given to us too in the past

 

[divya]

it clearly says 'fund'... open your eyes please

---------- Post added at 07:37 PM ---------- Previous post was at 07:36 PM ----------



if it was investment, it should be mentioned in the article, its aid, japan is giving aid, they have given to us too in the past

Thirty percent of the total investment for Phases I and II has been raised through equity capital with the Government of India (GoI) and Government of Delhi contributing equal shares,[62] and approximately another 60 percent has been raised as either long-term or subordinate debt, through soft loans from the Japan Bank for International Cooperation

As of August 7, 2010, Delhi Metro has paid back an amount of 567.63 crore (US$126.01 million), which includes loan amount for Phase I and interest amounts for Phases I and II, to the Japan International Cooperation Agency (JICA).

Think before you speak... Loans and investment vs aid.... need economic classes

 

[Capt.Popeye]

it clearly says 'aid'... open your eyes please



if it was investment, it should be mentioned in the article, its aid, japan is giving aid, they have given to us too in the past

Read this line in the post# 1, its self-explanatory:

The sources said Japan feels that continuance of projects like DMIC and DFC would go on to help its own economy.

 

[Ammyy]

DMIC is a mega infra-structure project that will cost USD 90 billion

oh teri 90 billion