Among five dedicated freight corridors mooted in the country, the one in the East Coast is most viable due to huge demand for movement of freight, Divisional Railway Manager M.S. Mathur said here on Tuesday.
Speaking at a trade meet organised with the stakeholders by the Visakhapatnam Port Trust here, he said there was a lot of scope for improving the connectivity in the East Coast Railway.
He said the dedicated corridors would be more viable due to heavy demand to transport coal and iron ore. “We are hopeful that it will come as part of thrust on capacity augmentation,” he said.
Mr. Mathur said the focus was now on doubling of lines and taking up of work on new lines for speedy and hassle free evacuation of cargo and mentioned how work was in progress to expand the Rayagada-Vizianagaram line and Kothavalasa-Kirandul line.
Stating how they were now firming up funds to complete projects sanctioned so far, he said as of now the projects sanctioned needed a massive investment of Rs. 4 lakh crore.
The DRM said they had finalised a loan to the tune of Rs. 1.5 lakh crore at a concessional interest rate from LIC. “We are now open to joint venture route and involving the industries and the State governments for capacity augmentation,” Mr. Mathur said.