Freight Train Current Affairs - 2020

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India-Japan sign Rs 15,295 crores rail project

On March 27, 2020, the JICA (Japanese International Cooperation Agency), a funding agency of the Japanese Government signed an agreement with GoI for 3 mega rail infrastructure projects. The project cost has been estimated as Rs 15,295 crores

Highlights

According to the agreements, Rs 8,553 crores have been granted by the JICA for phase I of the Dedicated Freight Corridors to be constructed in India. Also, JICA has granted Rs 4,262 crores for the Mumbai-Trans Harbour link project. Around Rs 2,480 crores have been granted for the Mumbai Metro Line Project.

Significance

The dedicated freight corridor aims at fulfilling the increased freight transport demand in the country. It will act as a backbone for the Delhi-Mumbai Industrial Corridor development plan.

All the three projects focus on Mumbai as the population in the metropolitan city has increased. Also, several industries have come up in the region. This will also help in reducing pollution levels in the city.

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MoU between India and Germany approved by Union Cabinet

On March 25, 2020, the Union Cabinet chaired by PM Modi approved MoU signed between India and Germany. The MoU was signed between Ministry of Railways and DB Engineering and Consulting GMBH of Germany. The Memorandum was signed in February 2020 and will facilitate technological cooperation in Railway sector.

Key Highlights of the MoU

The technological cooperation under the MoU will facilitate freight operations including automotive transport, cross-border transport and logistics. It will also help in infrastructure building. This includes new dedicated freight corridors and building of new passenger trains.

The agreement will facilitate technology transfers in IT solutions for railway sales, marketing and operations.

Background

The Ministry of Railways is in the mode of modernization of Railway sector. In order to achieve this, the Ministry has signed several agreements, memorandum of cooperation, technical cooperation, with foreign governments. Through these measures, the ministry aims to achieve high speed rails, increasing speed of existing routes, modernization of rail infrastructure and development of world class stations.

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