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Haryana partners railway ministry to build infra

Business Standard:  March 08, 2016

Gurgaon: Haryana has become the first state to partner the railway ministry to create rail infrastructure. Railway Minister Suresh Prabhu, while addressing the maiden investment summit of the state government on Monday, announced a Special Purpose Vehicle would be formed to seek states' synergies to boost rail infrastructure.

Inviting investors from within the country and outside - China, Japan, South Korea, among others - he said 400 railway stations in the county need upgradation and private-sector participation is imperative to achieve the targets of development of infrastructure. "Our railway stations have a footfall of seven billion per annum, so the investors can assess the feasibility and returns in such projects," said Prabhu.

The ministry is planning to engage the private sector to build 200 freight terminals in the next few years, the details of which are to be worked out soon.

A decision on integrated transport solutions would be taken in the next few days, the minister added.

Speed in moving cargo can substantially reduce the cost of transportation. So, the ministry is considering bringing out guidelines on this.

A rail coach factory in Haryana, announced a few years ago, might become a reality as the ministry would expedite approvals for the said project. The state government had earmarked a land parcel of 120 acres near Sonipat for the rail coach factory.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.