News
At an annual bilateral summit between Japan and India held in New Delhi late last year, Prime Ministers Yukio Hatoyama and Manmohan Singh welcomed the commencement of Japan - India cooperation on the Western Dedicated Freight Corridor (DFC) Project.
The Exchange of Notes for the Engineering Services Loan for the first phase (Rewari - Vadodara sector) of the project was signed in October 2009 in New Delhi. The two prime ministers reaffirmed their commitment to the early realization of the entire Western corridor utilizing Japan's Special Terms for Economic Partnership (STEP) scheme, which is expected to contribute to the further enhancement of Japan-India economic relations.
Both sides also welcomed the commencement of the preliminary survey for the second phase, and will make utmost efforts for early completion of both phases of the corridor in a parallel manner. The two leaders will also work together for conclusion of the agreement for the Main Loan for the first phase by March 2010 and for commencement of the assistance for the second phase at the earliest in 2010. Both sides will strive for early finalization of a funding and implementation schedule for the whole Western Corridor.
