Railways draws Rs. 8 lakh-cr hi-tech infra plans

    Delhi-Meerut Expressway
    Accelerating the infrastructure building initiatives in the country's rail sector, the railways has chalked out an ambitious plan entailing a staggering investment worth Rs. 8 lakh-cr involving high-speed rail connectivity, station redevelopment and capacity augmentation across the country, said railway board sources, elaborating that under the plan the entire rail network will be overhauled for which the financing will come from the capital expenditure provided in the Rail Budget, a major chunk is expected to come from outside the budget through PPP and multilateral funding. The railway is hoping that a lot of opportunities for economic growth will follow modernization of the public sector transporter, The National Plan for Railway Infrastructure Development is being formed factoring in funding of projects for the coming years. As per the plan, a major chunk of financing is expected to come from outside the budget sources through PPP and multilateral funding and on this score the railway has inked formal agreement with LIC for lending Rs 1.5 lakh-cr for rail expansion and avenues for funds from 13 countries are also expected to become realty for which the rail ministry has already inked agreements with them and a staggering deal worth Rs 97,636-cr has already been signed with Japan for the Mumbai-Ahmedabad high-speed rail project. These apart, Indian Railway is planning to link all metros with high-speed trains as part of its Diamond Quadrilateral project which requires huge private funding. On the station redevelopment front he said there is a lot of scope as the public transporter is opening up 408 major stations for private sector participation.
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