Business

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

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 4^th, 2017.

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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.

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