24 global companies have joined the race for bagging a INR 4000-crore bond of the Eastern Dedicated Freight Corridor (EDFC) project for laying a 393 kilometer (km) long rail route from Kanpur to Mughalsarai.
The firms include TATA Projects Limited, Gammon India Limited, Essar Infrastructure, Punj Llyod, AFCONS, IVRCL, GMR Infrastructure, SOMA Enterprises, KEC International, Gayatri Projects, Megha Engineering, ERA Infrastructure and BSCPL among others.
A senior DFCCIL official said, “24 international firms in joint venture with leading Indian construction companies have submitted their application for pre-qualification on July 4 for the second phase of EDFC project from Kanpur to Mughalsarai in Uttar Pradesh.” The World Bank has agreed in principle to part finance the Eastern Corridor project from Mughalsarai to Ludhiana, which has been divided into 3 phases.
The total in-principle loan commitment is USD 2.725 billion, out of which the loan for the first phase to the tune of USD 975 million was sanctioned in May, 2011 and the loan agreement was signed in October, 2011.
DFCCIL, a Special Purpose Vehicle (SPV), is engaged in planning, construction, operation and maintenance of the dedicated freight corridors and in the first phase, the two corridors, namely, Eastern Corridor from Ludhiana to Dankuni (1839 km) and the Western Corridor from Dadri to Jawaharlal Nehru Port (JNPT) (1499 km) are being constructed.