Modernisation: Railways to invest Rs 2,00,000 crore in 11th FYP

New Delhi, May 15 (UNI) The Indian Railways will invest Rs 2,00,000 crore for modernisation, capacity increase and completion of its new projects during the 11th Five Year Plan, Railway Minister Lalu Prasad has said.

The Minister made this announcement while addressing the students and faculty members of International Business School (INSEAD) during his current visit to Singapore this week.

He said Indian Railways have decided to invite Public Private Partnership (PPP) in the non-core sector for setting up logistic parks, wagon investment schemes, wagon leasing schemes and also to participate in the setting up of more than 7000 agricultural outlets throughout the country. ''Railways would encourage the introduction of PPP model for setting up of new factories for production of wagons, coaches and locomotives,'' he added.

The Railways is going to upgrade 26 major railway stations as world class facilities throughout the country including four metropolitan cities, Mr Yadav said. There will be separate departure and arrival facilities for passenger to decongest existing crowds at station complex besides other modernised passenger amenities including world class waiting/rest-rooms, multi-level parkings and malls.

After earning a surplus of Rs 25,000 crore during the year 2007-08 and with its operating ratio of 76 per cent, the Indian Railways have shown achievement which is much better than several top fortune 500 world companies, he claimed.

After taking new initiatives in freight sector, Indian Railways have carried 238 million tonnes of additional freight and earned more than Rs 14,000 crore additional freight revenue. ''In view of increasing demand for freight and to reduce the congestion on existing railway lines, we have decided to construct Dedicated Freight Corridors. In the first phase, the western corridor from Delhi to Mumbai and eastern corridor from Ludhiana to Kolkata will be constructed and in the second phase, Dedicated Freight Corridor will be constructed to link other parts of the country which would result in bringing out new revolution in the field of rail freight transportation,'' he added.

He credited the 14 lakh employees for the turnaround of Railways.

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