Indian Railways Needs Fund to Purchasing Locomotives

Indian Railways Needs Fund to Purchasing Locomotives
September 17, 2009 7:07 am

Indian Railways is seeking $475m in bank loans to purchase rolling stock.

The funding arm of the railway, Indian Railway Finance Corporation, is in talks with a group of six lenders for a $400m club loan to purchase 18,000 wagons and set up a factory to make 500 coaches a year.

The remainder $75m is expected to come from the State Bank of India and Union Bank of India. The new wagons are part of the railways’ infrastructure upgrade plans to enable it to carry more goods and compete with highways.
The railway’s funding arm has opted for loans after it found money raised through bonds will cost nearly 150–200bps (0.01 percentage point). is a railway information and news platform. Website presents from all around the world railway sector news, developments, projects and tender for the sector specialists. Railwaynews supports to industry events and announced them for potential participants. Railwaynews plans to collecting data from all around the world, about railway infrastructure, rolling stock, railway transportation datum, geographical datum to present for railway professionals for short term. Railwaynews will build new platforms aims to high value railway business environment for all railway specialists, railway fans and especially railway suppliers and their decision makers. Railwaynews presents whole information from rail professionals to rail professionals.

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