Railway Minister Lalu Prasad on Thursday unveiled a Rs 24,000-crore (Rs 240 billion) modernisation plan to be implemented over five years, beginning 2005.

The initiatives include introduction of high-speed passenger and freight trains, computerisation and modernisation of tracks and bridges.

About half of the total cost {Rs 10,270 crore (Rs 102.7 billion)} is proposed to be met through government support, while Rs 6,000 crore (Rs 60 billion) will be borrowed from the markets. Only 15.5 per cent of the total cost {Rs 3,730 crore (Rs 37.3 billion)} would be met through internal generation.

For the first two years, about Rs 4,000 crore (Rs 40 billion) would flow in from the Special Railway Safety Fund for safety-related activities. The Rs 17,000-crore (Rs 170 billion) fund would lapse a year later in 2007-08.

Many projects in the plan have already been on the Railways' plate for some time. For instance, initiatives like introduction of double-stack containers, stainless steel and aluminium wagons and development of roll-on roll-of service were announced by the previous NDA regime, which Prasad had promised to carry forward in his Budget of 2004-05.

"The modernisation plan clubs the ongoing programmes and adds some new initiatives," a senior rail ministry official said.

The modernisation plan also promises completion of 75 throughput enhancement works under the National Rail Vikas Yojana. Of these, 68 projects, estimated to cost Rs 2,390 crore (Rs 23.9 billion), have already been sanctioned.

The Railways would introduce a high-speed (150 km per hour) Shatabdi between Delhi and Agra this year. The Delhi-Patna-Howrah route would be completed by 2007-08 and the Delhi-Chennai route by 2009-10. The additional cost incurred for the project would be Rs 2,672 crore (Rs 26.72 billion).

High-speed freight trains, running at 100 km per hour, would be introduced on the Golden Quadrilateral and its diagonals connecting the four metros. The Golden Quadrilateral routes were covered under the National Rail Vikas Yojana.

On a roll

• The five-year modernisation plan would be spread over 2005-2010 and will cost Rs 24,000 crore
• Initiatives will include introduction of high-speed passenger and freight trains and modernisation of tracks and bridges
• Most projects like introduction of double-stack containers and aluminium wagons, have been around for some time