January 19, 2015 1:22 PM

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Suresh Prabhu stresses on infusing capital investment into Railways via FDI

Railway Minister Suresh Prabhu today stressed the need for infusing capital investment and Technology into the Railways through Foreign Direct Investments, FDIs. However, he ruled out any possibility of privatisation of Indian Railways. The Minister was addressing a National Seminar on Public-Private Partnership, PPP and FDI in Indian Railways, in Hyderabad this morning. The Minister assured on the occasion that the interests of Indian Railways will be fully protected while allowing FDI and private investments in select areas like fright corridors and port connectivity. Stating that Indian Railways must be made the engine of future growth of Indian economy, he stressed the need to expand railways. Governor of Andhra Peadesh and Telangana, ESL Narasimhan asked the government to priorities projects based on the needs of the people. He said, there is an urgent need to make all unmanned level crossings, manned, on priority. The Minister also flagged off two new trains, Secunderabad-Visakhapatnam AC Weekly Express and Nanded-Aurangabad Express at Secunderabad. Speaking on the occasion, Labour Minister B Dattatreyya stressed the need for allocating sufficient funds for wagan factory coming up in Warangal. Telangana Home Minister N Naradimha Reddy requested the government to sanction a new train to Shirdi.

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