The Cabinet Committee on Economic Affairs (CCEA) on Monday gave an in-principle approval to the Rs 28, 181 crore dedicated rail freight corridors between Ludhiana in Punjab and Sonnagar in Bihar and Mumbai and Delhi, Finance Minister P Chidambaram said today.
"These will be multi-modal, high-axle load freight corridors," Chidambaram said at the press briefing.
The dedicated eastern corridor from Ludhiana to Sonnagar will cost around Rs 11,859 crore while the western one between Delhi and Mumbai will cost Rs 16,592 crore, he added.
"The project is expected to be completed in five years," Chidambaram said. The government is also considering a proposal to extend the Ludhiana-Sonnagar corridor up to Kolkata, he added.
The project will benefit exporters, importers, shipping lines and container operators along the western corridor, and coal companies, steel plants and thermal power stations along the eastern corridor.
CCEA also gave its approval for the second phase of the Krishna Drinking Water Supply Project, costing Rs 817.62 crore, to augment water supply in Hyderabad.
Approval was also given for implementation of the integrated handlooms development scheme as a centrally sponsored scheme during the Eleventh Plan and to meet the committed liabilities of the four running schemes, namely, the Deen Dayal Hathkargha Yojana, the Integrated Handlooms Training Project, the Workshed-cum-Housing Project and the Integrated Handlooms Cluster Development Scheme. A budgetary provision of Rs 790 crore have been made for this proposal.
Source:http://www.business-standard.com,27-11-07
