The Indian Government is to plough US$7.15bn into building two rail freight corridors linking several major cities.
The proposed multi-modal, high axle load freight corridors were given the go ahead this week, writes the Economic Times of India.
The Indian Governemt believes the project will benefit ports, exporters, importers, shipping lines and container operators by the western corridor and coal companies, steel plants and thermal power stations by the eastern corridor.
Indian policymakers estimate that the country will need US$475bn to improve the ailing infrastructure, key to sustaining annual economic growth.
By staff writer
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