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Infrastructure
India
DFCC: Miles to go, millions of tons to carry. Indian Railways has embarked on one of
the largest-ever infrastructure projects, Dedicated Freight Corridor, with a potential size of
over US$16 bn. While progress has been slow so far, DFCC has just about started the
ordering process (RFQs/RFPs) for the project with aimed completion in 2017. The project
would provide a large opportunity to EPC players (potentially of Rs350-400 bn over fivesix years) though may be partly diffused by likely high competition, sourcing and
mandatory lead partnership (Western DFC) for Japanese contractors. Rail-based logistics
companies may benefit in the long term as the project catalyzes a shift from road to rail.
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