Kaladan News

Date: Wednesday,July 28, 2004

India, Burma signed MoU


Chittagong, July 28: India and Burma in New Delhi on Tuesday signed a Memorandum of Understanding ( MoU) to develop the Burma Railways according to the Times of India yesterday.

The MoU was signed by the Joint Secretary (South East Asia), Ministry of External Affairs Mitra Bashisth and Ambassador of Union of Burma in India U Kyi Thien in the presence of Minister of State for Railways R Velu and Burma Minister for Rail Transportation Major General Aung Min Aung Min leads a nine-member delegation to the country.

The two ministers expressed confidence that the MoU would further strengthen bilateral ties between the two neighbouring countries who enjoy deep cultural and religious bonds.

As per the agreement, India will make available a Line of Credit of 56.385 million USD to Myanmar for augmenting its railways.

Another agreement betweeen EXIM Bank of India and the Burma Foreign Trade Bank was also signed to operationalise the project.Burma has 4525 kms of railway lines.

The MoU stipulates that Rail India Technical and Economic Services Ltd (RITES) will execute the project for the supply of rolling stock, components, equipment, machinery and plant to Burma.

It will supply a package of ten 1350 HP Locomotives, 48 passenger coaches of various types and capital spares valued at 28 million USD.

The objective would be to improve passenger services on the Rangoon-Mandaly trunk  line and upgrade tracks, signalling and communication systems and maintenance facilities on the Burma Railways. ##

For more info, please contact:

E-mail:[email protected]