In order to meet its investment requirement the Indian Railways sought Cabinet approval for setting up Rs. 35,000-crore fund, called the Railways of India Development Fund (RIDF). In the new fund the railways will have a minority stake of up to 49 per cent and the fund will be used over seven years to meet its periodic investment needs, said official sources, claiming that the remaining stake will be given away through a competitive bidding to multilateral or bilateral institutions such as World Bank, IFC, or even to LIC. The fund will be used for providing long-term debt and equity to all rail-related projects and for various kinds of project financing, including those undertaken by private firms including railway station developers.
📅Published on:
26 May 2017
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