Railways frames policy to encourage private investment

The Indian Railways has formulated a new policy to enhance connectivity to coal and iron ore mines and also to encourage private investment in the sector, Minister of State for Railways Adhir Ranjan Chowdhury has said. Railways has formulated a new policy called ‘Policy for participative Models in Rail Connectivity and Capacity Augmentation Projects’ which came into effect from December 10, 2012, India Coal Market Watch (ICMW) quoting the minister as saying. He said a few generic models for encouraging private investment have been offered under the new policy. These include Non-Government Railway Models, Joint Venture Model, Railway Projects on Build Operate Transfer awarded through Competitive Bidding and Capacity Augmentation-Annuity Model. Under the Capacity Augmentation-Annuity Model, state governments, local bodies, beneficial industries, ports, large import and export companies, co-operative societies and other body corporate, infrastructure and logistics providers can participate depending on the model that suits their business interests.

http://news.webindia123.com/news/ar_showdetails.asp?id=1303220362&cat=&n_date=20130322

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