RAILWAYS V

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The project is part of SRT's investment program for the years 1977-1981 and will enable the Borrower to meet increasing demand for railway services while further improving the railway's operating and financial performance. The economy as a whole will benefit from increased capacity to meet projected demand and through savings in transport costs for commodities carried. The project includes: (a) acquisition of thirty 1,800 hp diesel locomotives; (b) manufacture of 79 passenger coaches and 103 freight cars; (c) rehabilitation of track and bridges; (d) modernization of telecommunications and signalling systems; and (e) improvement of workshop facilities. The Bank loan will cover the foreign exchange cost of materials to be procured for rolling stock manufacture; bridge and workshop rehabilitation; procurement of monoblock concrete ties; and telecommunications and signalling.