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Rediff.com  » Business » Laloo attempts to woo investors to rlys

Laloo attempts to woo investors to rlys

June 15, 2006 15:48 IST

Railway Minister Laloo Prasad Yadav asked private investors on Thursday to avail of the liberalised policies announced by his ministry under public private partnership concept for faster growth of the railways.

"We have taken several measures to upgrade and modernise rail infrastructure. Yet we have to take more initiatives. We have also tried to liberalise our policies with regard to attract private players in the development of railways", Yadav said in New Delhi on Thursday.

Inaugutating the two-day Public Private Partnership Convention: India Rail, he said it was because of policies initiated by his ministry, the Indian Railways have been able to earn a record profit of Rs 13,000 crores (Rs 130 billion) by March 31 and "we expect this to reach Rs 20,000 crores (Rs 200 billion) by 2006-07."

To achieve this, the minister said Indian Railways have initiated three projects through joint venture --Surendranagar-Pipavav Gauge Conversion Project, Palampur-Gandhidham Gauge Conversion Project (both in Gujarat) and Hasan-mangalore Gauge Conversion Project in Karnataka -- 

route by floating special purpose vehicle. 

Yadav's two deputies, R Velu and Naranbhai J Rathwa, as also Chairman Railway Board J P Batra, talked about railways' achievements during the last two years.

They identfied special economic zone, multi-modal logistic hubs, setting up inland container depots, development of passenger hubs, remote area conncetivity, wagon investment scheme and privatisation of container business as some of the areas for public private partnership.

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