Japan to give fresh infra loan of $2.26 billion to India

[Apollyon]

Japan to give fresh infra loan of $22.6 billion to India

PTI | Nov 20, 2012, 03.14PM IST
PHNOM PENH: Japan will give a fresh loan of about $22.6 billion for the second phase of Dedicated Freight Corridor and an infrastructure project in South India, Prime Minister Yoshihiko Noda today told his Indian counterpart Manmohan Singh as they met here, making up for an opportunity lost a few days ago.

Singh, while welcoming the announcement of loan, emphasised to Noda that India's priority was investments by Japanese companies in infrastructure projects like Delhi Metro Rail, which was a "fine example" other cities want to emulate.

The two leaders were to meet in Tokyo on November 16 during Singh's scheduled three-day visit beginning November 15 for annual Summit. However, the visit was cancelled just a day ahead in view of sudden political developments in Japan with Noda deciding to announce elections.

During the meeting today on the sidelines of East Asia Summit, Noda expressed happiness at being able to meet Singh to underline the close Strategic and Global Partnership between the two countries, sources said.

He told Singh that he wanted to discuss the next steps in the relationship since they could not meet in Tokyo for the Annual Summit due to domestic developments in Japan, they said.

Noda informed Singh that Japan will be announcing the second round of loans under Overseas Development Assistance (ODA) for the second phase of the Dedicated Freight Corridor and a third infrastructural project in South India, where Japanese companies have a good presence, the sources said.

The fresh loan amount is expected to be 184 billion yen, approximately $22 billion.

The Japanese Prime Minister also mentioned Japanese interest in continuing the consultation on the high-speed railways.

Both the Prime Ministers expressed happiness on the signing of the MoU on Rare Earths and the Agreement on Social Security signed on November 16 in Tokyo.

why not invest, why give a loan :hitwall:

 

[pankaj nema]

Whenever Japan gives loans there is a built in clause about the percentage of the project contract
that will be GIVEN TO JAPANESE Companies

Maybe other countries also follow such a practice

More than FIFTY percent of the work will be done by a Japanese LED CONSORTIUM

Indian companies will be the sub contractors

 

[lcatejas]

Its good in other manner other wise our idiot ministers will give it to RIL who will mess the project and bring third class Chinese kachra to india ...sab ko maloom hai what happen to delhi metro built by RIM

 

[cloud_9]

Bhai is $2.2 Billion not $22.6 billion.

What about this ~ $4 Billion dollar loan
Rly to get about Rs 20,000 cr Japanese loan for western freight corridor

In a major leap towards the execution of Dedicated Freight Corridor (DFC), railways have signed a loan agreement of about Rs 20,000 crore with Japan for its western corridor.

Looks like Lakshmi mata visited Manmohan Singh this Diwali.....mauja hi mauja :crusin4:

 

[Bangalorean]

Its good in other manner other wise our idiot ministers will give it to RIL who will mess the project and bring third class Chinese kachra to india ...sab ko maloom hai what happen to delhi metro built by RIM

Exactly. Never ever take any Reliance stuff. They have typical bania mentality. They will never take the hard way out - they will take the easy way out and do the least possible effort to earn maximum profits.

Now these fellows have started marketing "Reliance Air Conditioners" in their Reliance Digital stores. Now, what they actually do is, they have a contract with some Chinese company which makes ACs in China - they just import thousands of ACs in bulk and stamp it with "Reliance" brand here in India.

On the other hand, Voltas (good old Tatas) manufacture their air conditioners in India. So do Videocon, Onida, and some foreign companies too. I had to buy three Air conditioners last month - no prizes for guessing which company I went for.

And in general, these companies managed by Bombay Parsees, Tata group companies are more ethical. Just look at the difference between Shapoorji-Pallonji and Reliance Infra.

Reliance simply cannot be trusted to do quality work without cutting corners. Reliance needs to be made to understand by us, the consumers, that they need to improve their quality and not take the easy way out everytime, for everything.

 

[cloud_9]

^ Reliance guys are really shrewd they were sitting on cash pile last year but they were taking loans from China to start some project.The Chinese loans always comes with a clause to use Chinese stuff.So the Chinese goverment sold there stuff and Reliance got easy credit


PS - I think most Japanese and Korean Ac's are Made in India.

 

[roma]

Whenever Japan gives loans there is a built in clause about the percentage of the project contract
that will be GIVEN TO JAPANESE Companies Maybe other countries also follow such a practice More than FIFTY percent of the work will be done by a Japanese LED CONSORTIUM Indian companies will be the sub contractors

they way i see it - it's just a start - practices can be discussed and improved as we go along - but to make a start was the important thing
secondly we are not FORCED to take the loans
we can talk terms and see IF - IF it is worth the while - as long as our people get subcontracting jobs and overall india benefits - then what's the harm ?
better than getting chicom companies in and they build low -quality , the tower collapses our folks get hurt and they run back to china and are nowhere to be seen , no accountability and impossible to get the money back .....if we dont get japanese , the alternative might be chicom

giving one million dollars to any chicom company is giving one million dollars to their military to kill our jawans - id anyday prefer to give twenty, even thirty percent more to the japanese or even south koreans - we know for sure it wont be used to kill our people

 

[thakur_ritesh]

Whenever Japan gives loans there is a built in clause about the percentage of the project contract
that will be GIVEN TO JAPANESE Companies

Maybe other countries also follow such a practice

More than FIFTY percent of the work will be done by a Japanese LED CONSORTIUM

Indian companies will be the sub contractors

Pankaj,

These things happen all the time.

Possibly in this loan programme the terms on the duration of repayments and the interest rate would be extremely liberal, and so the Japanese would want to make the most kill.

I guess when an AID programme is run, the contracts handed out get given 100% to the donor country's companies.

 

[cir]

Come on。After 20 years of no growth or relative decline, Japan is still considered a rich country。2.26 billion is pocket change for a country the size of India，especially when the money used is for infrastructure projects such as motorways and high-speed railways。

Laos is a tiny country compared with India，yet it has received a 7 billion dollar loan from China for the construction of a rail link that will run from the Chinese border to the capital Vientiane。The work will start early in 2013.

India should definitely ask for more, considering the fact that it is now a supplier of rare earth to Japan。

 

[cloud_9]

Come on。After 20 years of no growth or relative decline, Japan is still considered a rich country。2.26 billion is pocket change for a country the size of India，especially when the money used is for infrastructure projects such as motorways and high-speed railways。

Laos is a tiny country compared with India，yet it has received a 7 billion dollar loan from China for the construction of a rail link that will run from the Chinese border to the capital Vientiane。The work will start early in 2013.

India should definitely ask for more, considering the fact that it is now a supplier of rare earth to Japan。

2.2 billion is part of the 3.6 billion that JICA will lend us for Phase 2.

For more Click on this Jica Indial > "ODA Loan Project DATA"

Japan has helped India in a big way. Banzai!