By Hiroshi Suzuki
Oct. 18 (Bloomberg) -- Japan will provide a 450 billion yen ($4.4 billion) loan to fund construction of a freight rail link between New Delhi and Mumbai in India, the Nikkei newspaper reported.
Prime Minister Taro Aso and Indian Prime Minister Manmohan Singh will agree on the loan in a meeting on Oct. 22, Nikkei reported, without saying where it obtained the information.
Japan will disburse the financing, its largest yen loan for a single project, in increments to fund construction through 2015 when the railway is to open, the report said. The project's total cost is estimated at 518 billion yen, it said.
To contact the reporter on this story: Hiroshi Suzuki in Tokyo at Hsuzuki5@bloomberg.net.
Saturday, October 18, 2008
Japan to Offer $4.4 Billion Loan for India Railway, Nikkei Says
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