GoM set up on Railways' dedicated freight corridor project

New Delhi, Aug 3 (UNI) The Centre has constituted a Group of Ministers for the Railways' dedicated freight corridor project between Delhi and Mumbai and Delhi and Kolkata, to be built at an estimated cost of Rs 22,000 crore.

In a written reply in the Lok Sabha, Minister of State for Railways R. Velu today said the GoM had been constituted to consider the proposal of setting up a Special Purpose Vehicle (SPV) for implementing the project.

The GOM consists of the Ministers of Railway and Finance, besides the Deputy Chairman, Planning Commission. The estimated cost of the two corridors on Eastern and Western routes, which will bolster the revenues of the Railways, is Rs. 22,000 crore.

Mr Velu said all possible funding options, including debt, bilateral/multilateral funding, budgetary support and public private partnerships, would be explored.

Replying to another query, he said at present, there was no proposal for other dedicated freight corridors.

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