IDB to finance railways’ fleet expansion

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

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.



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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