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Saturday, July 13, 2024

Indian Railways Minister calls on private sector to aid rail network expansion

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Indian Railways Minister Pawan Kumar Bansal has again stressed the need for private sector participation to achieve the country’s rail vision.

Bansal made the comment during The Associated Chambers of Commerce and Industry of India (ASSOCHAM) conference in New Delhi.

Speaking at the international conference on dedicated freight corridors, Bansal said: “To meet the needs of the projects already, announced by the Indian Railways there is an immediate need of about $30 billion for building new lines, gauge conversion from meter to broad gauge, doubling and trebling of railway tracks and electrification thereof and for this we have to encourage and invite private sector participation to the maximum extent possible.

“Public-private partnership (PPP) mode could be very successfully in case of redevelopment of 50 stations that have identified for redevelopment.”

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