Government of India invites private sector to invest in rail infrastructure – said Rajen Gohain, Minister of State for Railways, at ASSOCHAM International Summit on Invest Rail held at New Delhi. The Minister said that Indian Railways had already set in consultative process on private investment.
New Delhi: Railways is keen to involve private players in development of rail infrastructure at more than 400 major stations in the country and offers “favourable” investment environment for the industry partners, Minister of State for Railways Rajen Gohain said here today. The Minister on Wednesday urged the private sector to invest in railway infrastructure.
“Need of the hour in Indian Railways is the massive investment and new technology without which we cannot move to become a world class transporter,” Rajen Gohain said at an industry summit organised here. “Thus, the plan is to increase investment to nearly one trillion rupees in the next decade,” the minister said at ‘ASSOCHAM International Summit on Invest Rail’. “We are ready to offer an attractive and investment friendly environment, particularly looking at investment partners in more than 400 station building projects for high return on investment,” he said here at an event organised by industry body Assocham.
Gohain said the railways will have to move from merely developing rail infrastructure to other support services like technology upgrade, better logistic support and better passenger services in an integrated manner.
Stressing on the need of heavy infusion of funds in rail sector, Gohain said “Need of the hour in Indian Railways is massive investment and introduction of new technology, without which we cannot move to become a world class transporter. Thus, the plan is to increase investment to nearly Rs one trillion in the next decade.”
He said development of rail infrastructure will help reducing pollution.
“Investment in rail will thus help in the planets sustainable and environmental goals and help in meeting the greenhouse gas emission targets. In addition, rail offers a more stable and sustainable form of transportation. We, in Indian Railways, are thus trying to have a collaborative approach in bringing governments, local authorities, railways and other stakeholders on the same wave length for a more sustainable form of transport system,” Gohain said.
While India has the world’s fourth largest rail network, as it has been outstripped by china, which now has more than six times as much railway track following an intensive expansion and modernisation of its network over the past two decades.