Railways woo private investors for PPP infrastructure projects
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Railways woo private investors for PPP infrastructure projects

Last Updated: Wednesday, February 13, 2013, 12:52
 
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New Delhi: In a bid to attract private investment, railways on Saturday held consultations with industry representatives to firm up PPP-model in rail infrastructure projects.

"We tried to engage stakeholders on wider consultations for formulating private participation in port connectivity, wagon leasing and private freight terminals (PFT)", said a senior Railway Ministry official who participated in the investors' meet here.

The meeting was attended by senior Railway Ministry officials and representatives of companies like Adani, Ultra Tech, Rewas Port, Ennor Port, Prism Cement, Coal India and Singreli.

Chairman Railway Board Vinay Mittal explained the salient features of these policies and sought suggestions from the industry to prepare a roadmap for private participation in rail infrastructure projects.

The meeting with the industry assumes significant as it came a fortnight before the Rail Budget 2013-14.

"There were a few suggestions from the industry which will be duly incorporated, said the official.

Railways has eased conditions for firms to procure and lease rail wagons to other businesses in an attempt to make the Wagon Leasing Scheme more attractive for the private sector.

It has lowered the eligibility bar for companies, extended the validity of the one-time registration and given more freedom to firms in sourcing of wagons, the official said.

According to the new norms, a company with a net worth of Rs 100 crore could operate under the Wagon Leasing Scheme. The earlier norms required a company to have a net worth of at least Rs 250 crore.

On private freight terminal (PFT), the official said now a PFT operator can handle various types of goods for the Railways and provide value-added services such as storage and distribution.

"So, by allowing companies to earn revenue by handling cargo of various types, we expect to get some incremental cargo and attract some cargo from the road as well," he said.

PTI

First Published: Saturday, February 09, 2013, 19:33

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