IDB to finance railways’ fleet expansion

300 locomotives will be inducted with help of IDB financing in span of 7 years

APP October 04, 2017
facebook whatsup linkded
photo reuters
PHOTO: REUTERS
The Islamic Development Bank (IDB) will finance the locomotives fleet expansion plan of the Ministry of Railways, says a press release issued by the ministry.

As part of this plan, 300 locomotives will be inducted with the help of IDB financing in a span of seven years.

These locomotives would be purchased in the form of completely knocked down (CKD) units and would be assembled later at Pakistan Locomotive Factory in Risalpur, the statement added. Turkey can also be taken as an example that got IDB loan and increased its railway locomotives.

Success story IDB picks three Pakistani projects as examples

In an earlier development, General Electric had reached an agreement with Pakistan Railways for supplying 20 locomotives, sanctioned for use in the mountainous northern regions.

Published in The Express Tribune, October 4th, 2017.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
facebook whatsup linkded

COMMENTS (1)

Zeesha | 7 years ago | Reply With such a high number of locomotives requirement, Gov. must make sure to have Transfer of Technology and 60-70% of the locomotives should be manufactured in Pakistan, not just assembling of CKD kits. Ensure involvement of private firms to have efficiency and competitiveness. If the Gov. can commit constant requirements for 7-10 years I am sure a lot of private firms will see this as a good opportunity.
Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

Join Us

Entertainment

article

MrBeast accused of crypto controversies, Coffeezilla claims millions made through shady practices
VIEW MORE

LATEST

psx continues bullish trend kse 100 index nears 95 000 mark

PSX continues bullish trend, KSE-100 index nears 95,000 mark

oil sector deregulation fast tracked

Oil sector deregulation fast-tracked

govt awaits imf stance on mini budget

Govt awaits IMF stance on mini-budget

sbp s forex reserves surpass 31 month high

SBP's forex reserves surpass 31-month high

stocks surge amid economic optimism

Stocks surge amid economic optimism

islamic banking a must for financial system

Islamic banking a must for financial system

OPINION

when we take too much for granted

When we take too much for granted

using human body as an element of design

Using human body as an element of design

the dwindling diversity of life on earth

The dwindling diversity of life on Earth

let the labourers have the last laugh

Let the labourers have the last laugh

us presidential election why trump won

US presidential election - why Trump won

the enemy within

The enemy within

FOLLOW US

This material may not be published, broadcast, rewritten, redistributed or derived from. Unless otherwise stated, all content is copyrighted © 2024 The Express Tribune.