Planned East Coast Freight corridor is top priority: DFCCIL MD

The proposed East Coast Freight Corridor is ‘top most priority’ for approvals among the three new proposed dedicated cargo tracks according to Praveen Kumar, Managing Director (MD) of Dedicated Freight Corridor Corporation of India Limited (DFCCIL). Speaking to ET on the sidelines of the Global Heavy Haul Seminar, Kumar said detailed project reports for three new freight corridors worth Rs 4.5 lakh crore have been prepared and sent for approvals to the Railway Boards.

DFCCIL has proposed the East Coast Freight Corridor which will run from Kharagpur (West Bengal) to Vijaywada (Andhra Pradesh), an East West Corridor that runs between Kharagpur and Palghar (Maharashtra), and a North South Freight Corridor from Vijaywada to Itarsi (Madhya Pradesh).

“The first priority (for approvals) is the East Coast, followed by East – West, and then North – South,” Kumar said while responding to queries on the plans for DFCCIL once the Western DFC is complete later this fiscal.

He said discussions have also been held for refinancing Rs 5,000 crore worth World Bank loans availed by the DFC. According to Kumar, deliberations have been held with the Indian Railway Finance Corporation (IRFC) for the same but other government-owned lenders have also expressed interest.

The MD also said IRFC may be approached for financing future DFC projects.