ASIAN Development Bank has approved funding for a further tranche of projects in Indian Railways’ Golden Quadrilateral upgrading programme for the lines linking Delhi, Kolkata, Chennai, and Mumbai. Newly approved are: third tracks between Ghaziabad and Aligarh (Rs23·8bn) and between Kurdaand Barang (Rs13·3bn), doubling of Raichal - Guntakal (Rs13·6bn) and Cuttack - Barang (Rs12·7bn), and construction of a new terminal in Delhi at Anand Vihar (Rs 8·3bn). This leaves four projects still to be assessed.

Of the Rs800bn cost, ADB’s share has been adjusted and will be slightly lower than estimated. The bank will now provide Rs450bn to Rail Vikas Nigam, IR’s special-purpose vehicle set up to finance Golden Quadrilateral projects. IR’s share increases from Rs120bn to Rs150bn, while Rs200bn will be borrowed on the open market.