Cabinet approves Japanese aid for freight corridor

September 22nd, 2009 FedEx's freight unit president and CEO to retireNEW YORK — FedEx Corp., the world's second largest package delivery company, said Tuesday the president and CEO of its freight unit will retire. The company said Tuesday in a filing with the Securities and Exchange Commission that Douglas G.

September 17th, 2009 NEW DELHI - The government Thursday approved a Japanese soft loan for the Rs.26,124 crore ($5.4 billion) dedicated railway freight corridor stretching 1,483 km from Navi Mumbai to the national capital, an infrastructure project that has been described as iconic. The cabinet today (Thursday) approved the proposal for availing Japanese ODA (overseas development assistance) for implementing the western corridor of the DFC (dedicated freight corridor) project, Information and Broadcasting Minister Ambika Soni told reporters after a cabinet meeting chaired by Prime Minister Manmohan Singh.

July 13th, 2009 NEW DELHI - Indian Railways have carried 213 million tonnes of freight during April-June 2009, registering an increase of about five percent over that registered in the year-ago period. In the first quarter last fiscal, freight traffic stood at 203 million tonnes, the railways ministry said in a statement.

July 2nd, 2009 NEW DELHI - Amidst much speculation and expectations, Railways Minister Mamata Banerjee Thursday gave final touches to the rail budget, to be presented in parliament Friday. Shifting from the claims of high surplus by her predecessor Lalu Prasad, Banerjee has maintained from the day she assumed charge that her focus would be on improving passenger amenities and rationalisation of services such as Tatkal (instant ticketing) service.

June 24th, 2009 German cabinet approves 2010 budgetBERLIN — Germany's cabinet has approved a budget for 2010 that foresees taking on record debt to help safeguard the country against the global financial crisis, the finance minister said Wednesday. The new budget anticipates euro86.1 billion ($120.35 billion) in fresh debt, more than double the euro40 billion for the current year and the largest credit to be taken out by the German government since World War II.

February 16th, 2009 NEW DELHI - The construction work on the 1,483-km dedicated freight corridor, Delhi-Mumbai Industrial Corridor (DMIC), will start soon, a union minister said here Tuesday. The Delhi-Mumbai Industrial Corridor Development Corp (DMICDC), the implementing agency for the project, has appointed consultants for preparing a detailed plan for the project, Minister of State for Industry Ashwani Kumar said in parliament.

February 12th, 2009 NEW DELHI - Following are the highlights of the interim rail budget for next fiscal presented by Minister for Railways Lalu Prasad in Lok Sabha Friday: * Feasibility studies progressing well to start 'bullet trains' in India * Railways will create record surplus of Rs.900 billion (Rs.90,000 crore) this fiscal * In past five years, no burden imposed on train passengers * Railways saw 14 percent rise in passenger income * Railways managed 8 percent growth in freight loading * Drop in train accidents, railway safety enhanced * Rs.700 billion (Rs.70,000 crore) surplus ploughed back to improve efficiency * Rs.367.73 billion (Rs.36,773 crore) spent this fiscal toward productivity, passenger facilities * Railways to introduce wagons with higher capacity * Railways to spend Rs.230 billion (Rs.23,000 crore) in 2009-10 * Work has started on Delhi-Mumbai dedicated freight corridor

February 12th, 2009 NEW DELHI - Following are the highlights of the interim rail budget for next fiscal presented by Railway Minister Lalu Prasad in Lok Sabha Friday: * Two percent reduction in fares for virtually all classes * Feasibility studies progressing well to start 'bullet trains' in India * Railways will create record surplus of Rs.900 billion (Rs.90,000 crore) this fiscal * In past five years, no burden imposed on train passengers * Railways saw 14 percent rise in passenger income * Railways managed 8 percent growth in freight loading in five years * But freight down in current year due to economic downturn * Drop in train accidents, railway safety enhanced * Rs.700 billion (Rs.70,000 crore) surplus ploughed back to improve efficiency * Rs.367.73 billion (Rs.36,773 crore) spent this fiscal toward productivity, passenger facilities * Railways to introduce wagons with higher capacity * Railways to spend Rs.230 billion (Rs.23,000 crore) in 2009-10 * Work has started on Delhi-Mumbai dedicated freight corridor * Dedicated freight corridor from Ludhiana to Kolkata to be inaugurated later this month * Kolkata Metro will be expanded * Frequencies of a host of trains enhanced * Frequencies of several trains across the country increased to daily service * Steps to have railway connectivity to Kashmir initiated * Railways have set up four call centres

February 12th, 2009 NEW DELHI - Railways Minister Lalu Prasad expects to cross the budgeted freight and passenger revenue targets this fiscal despite the economic slowdown. 'We are not only hopeful but confident that the budget targets for passenger and goods earnings set for this fiscal will be surpassed,' Lalu said Friday while presenting the interim railway budget for 2009-10.

February 12th, 2009 NEW DELHI - Indian Railways will likely get Rs.200 billion (Rs.20,000 crore/$4 billion) from Japan for their rail freight corridor project, Railways Minister Lalu Prasad said here Friday. The Japan International Cooperation Agency (JICA) will release the funds by the end of 2009, Lalu Prasad told reporters after presenting the interim railway budget.

February 12th, 2009 NEW DELHI - Following are the highlights of the interim rail budget for next fiscal presented by Railway Minister Lalu Prasad in Lok Sabha Friday: * Two percent reduction in fares for virtually all classes * Feasibility studies progressing well to start 'bullet trains' in India * Plan outlay for 2009-10 kept at Rs.379.05 billion (Rs.37,905 crore) * Railways will create record surplus of Rs.900 billion (Rs.90,000 crore) this fiscal * Rs.700 billion (Rs.70,000 crore) surplus ploughed back to improve efficiency * In past five years, no burden imposed on train passengers * Railways saw 14 percent rise in passenger income * Railways managed 8 percent growth in freight loading in five years * But freight down in current year due to economic downturn * Revised freight earnings for this fiscal to Rs.542.93 billion (Rs.54,293 crore) * Freight loading target retained at 850 million tonnes * Estimated freight earnings for next fiscal pegged at Rs.590.59 billion (Rs.59,059 crore) * Drop in train accidents, railway safety enhanced * Rs.367.73 billion (Rs.36,773 crore) spent this fiscal toward productivity, passenger facilities * Railways to introduce wagons with higher capacity * Railways to spend Rs.230 billion (Rs.23,000 crore) in 2009-10 * Work has started on Delhi-Mumbai dedicated freight corridor * Dedicated freight corridor from Ludhiana to Kolkata to be inaugurated later this month * Kolkata Metro will be expanded * 43 new train services to be started in 2009-10 * Frequencies of 14 trains enhanced * Frequencies of several trains across the country increased to daily service * Extension of 14 trains envisaged * Passenger volume likely to grow by around 7 percent over previous year * Steps to have railway connectivity to Kashmir initiated * Railways have set up four call centres

January 18th, 2009 NEW DELHI - Enthused by an exhilarating ride on a Japanese high-speed train last week during his visit to Japan, Railways Minister Lalu Prasad Monday said India would soon have similar bullet trains on selective routes and that his ministry would start scouting for global consultants. 'The day is not far off when the bullet train will run in the country,' Lalu Prasad told reporters here.

January 18th, 2009 NEW DELHI - Fresh from a ride on a Japanese bullet train, Railways Minister Lalu Prasad Monday announced that India would soon have similar high-speed trains on select routes. 'The day is not far off when the bullet train will run in the country,' Lalu Prasad told reporters here.

January 12th, 2009 NEW DELHI - Railways Minister Lalu Prasad Yadav, who is on a seven-day visit to Japan, Tuesday took a ride on the Bullet Train in Tokyo to get a first hand experience of what the Japanese call Shinkansen high-speed trains. The minister along with Railway board Chairman K.C.

January 11th, 2009 NEW DELHI - Railways Minister Lalu Prasad left on a seven-day visit to Japan and Singapore late Sunday during which he will seek investment for his nationwide dedicated freight corridor project and ride the bullet train to see if it can be introduced in India, officials said. The Japan International Cooperation Agency has already agreed in principle for a loan of some Rs.15,000 crore (Rs.150 billion/$3 billion) for the freight corridor project and the minister will seek to clinch the deal during the visit, the officials added.