Stressing on the need to create infrastructure for promoting growth, Union Minister Suresh Prabhu today said Indian Railways and Haryana government will soon set up a joint venture company for developing the rail network
Addressing captains of industry in the two-day ‘Haryana Happening Global Investors Summit’ here, he said that in the recent rail budget, the government has decided to make huge investment in Haryana to expand the rail connectivity.
“We want to take the rail infrastructure at the next level so that Haryana will further become an infra hub and contribute significantly in growth of the country,” he said.
Prabhu also said that he was happy to announce to make the project of setting up of a rail coach factory in Haryana a reality. The factory is envisaged to be set up over an area of 120 acres.
Stressing on the need to create infrastructure for promoting growth, Union Minister Suresh Prabhu today said Indian Railways and Haryana government will soon set up a joint venture company for developing the rail network.
“We have signed joint venture agreements with 16 states for building rail infrastructure. Haryana is the first state which is now going to work with us as a partner to create a joint venture company in which we will develop railway infrastructure,” the Railways Minister said at ‘Happening Haryana Conclave’ here.
“We will try to operationalise this joint venture company in the next few days itself,” he added.
He also said that the Railways have decided to make huge investment in the state for developing new connectivity.
“We have decided to make rail factory a reality very soon. We have been discussing with Chief Minister. We are trying to get 120 acre land for that,” he said.
Inviting private investment, Prabhu said 400 railway stations are going to be modernise soon. “India has 400 railway stations with huge eyeballs and 7 billion footfalls every year. So just imagine the opportunity for railway station re-development,” Prabhu said. “Our railway stations have a footfall of seven billion per annum so the investors can assess the feasibility and returns from such projects,” Prabhu said.
He said the ministry is mulling engaging the private sector to build 200 freight terminals over the next few years, the details of which will be worked out shortly. Faster movement of cargo can substantially reduce the cost of transportation, and the ministry is also mulling bringing out guidelines on cargo speed. The decision on integrated transport solutions would be made within the next few days, Prabhu added. He also said Haryana has capability to become a logistic hub for the north. Therefore, he said, Railway will be active partner for developing the state into hub.