New Delhi: The Asian Development Bank (ADB) has extended loan of $313.6 million for funding certain railway projects located in the Golden Quadrilateral and its diagonals, the Lok Sabha was informed yesterday (Dec 2, 2004).

He also said that the Rail Vikas Nigam Limited (RVNL) would generate resources and implement identified projects in a fixed timeframe.

In a written reply to a question, Minister of State for Railways R Velu said the ADB has extended a loan of $313.6 million to execute the sub-projects in the quadrilateral and its diagonals.

He said the investment policy of the railways and the resource mobilisation is undertaken through internal generation, budgetary support, market borrowings and other non-budgetary investment initiatives including public-private partnerships.

He said the RVNL which has been created to ensure faster implementation of railway projects will generate resources and implement the projects.

In reply to another question, the Minister said a techno-economic feasibility study for running high-speed trains between Mumbai and Ahmedabad on a dedicated new track has been initiated through RITES. A proposal for a development study has also been submitted to the Japanese Government, he informed.

He said the railways is planning to build the coaches and locos by applying new generation technology and accordingly the production units have been technologically upgraded with transfer technology to facilitate indigenous production.