Railway Minister Suresh Prabhu has asked foreign funds and domestic investors to replicate with the railways their success in the telecom, power and road sectors. Mr. Prabhu said the Railway Ministry has chalked out a five-year plan under which it is looking at an investment of 1 trillion rupees this financial year and 8.5 trillion rupees over the next five years. He was addressing a gathering of overseas investment bankers and domestic funds led by insurers and financial institutions in a closed-door meeting held at the Bombay Stock Exchange Tower in Mumbai Friday evening. According to sources, the Minister, however, was quick to admit that private investment in a public service like the railways will take time.Mr. Prabhu said most railway lines are running at 100 per cent of their capacity, leading to heavy congestion. Therefore, he added that, investments are needed to ease rail traffic. He said it will cost Rs 10 Crore rupees for laying a 1-km rail link and 6 Crore rupees for doubling/ tripling of an existing railhead.
News On AIR | August 8, 2015 9:35 AM
Railway Ministry chalked out a five-year plan: Suresh Prabhu