Railway ministry seeks foreign direct investment
worth Rs 93,000 crore for infra structure development.
According to Railway Board Chairman Arunendra Kumar,
the railways is going to hold two investor meets to apprise potential investors
of the kind of models and projects on offer for participation.
The Rs 63,000-crore Mumbai-Ahmedabad high-speed
corridor project is the single largest. The other big ones include the Rs
14,000-crore CSTM-Panvel suburban corridor, to be implemented in public-private
partnership (PPP), and the Rs 1,200-crore Kachrapara rail coach factory,
besides multiple freight line, electrification and signaling projects.
The Mumbai-Ahmedabad high-speed corridor stretches
534 km and will be implemented on a design-build-finance-operate-transfer
(DBFOT) basis, with government-to-government cooperation. For the Kachrapara
rail coach factory, the ministry has finalized the lowest price per coach as
the bidding parameter. The factor is being planned to roll out 500 such coaches
annually.
According to the Railway Board, the discussions at
the previous investor meet surrounded the overview of five models of
participative policy, framework of engineering, procurement and construction
(EPC) contracts and sectoral guidelines for foreign and domestic investment.
The ministry’s brass has also deliberated on a new model concession agreement
under the PPP model and new projects like station development to be rolled out
under PPP with investors.
Earlier, Railways Minister Suresh Prabhu said the
ministry would put in place an “investor-friendly framework to transform the
national transporter into an efficient organization, attract investment on a
long-term sustainable basis and in three years make the railways better than
what it is today.
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