Railways setting up Rs 30,000 cr fund for infra projects
23/08/2016 10:33
The Indian Railways has said that it is setting up a Rs 30,000 crore fund to attract investors for the expansion and modernisation of rail infrastructure for implementation of remunerative projects across the country. Commenting on the development, a senior Railway Ministry official told the media, “We are creating a fund of Rs 30,000 crore for setting up Railways of India Development Fund (RIDF).” As per reports, investors like World Bank, National Infrastructure Investment Fund, pension and insurance fund and other institutional investors are expected to be part of the RIDF. However, the RIDF will invest only on those rail projects which have high rate of return. As per reports, Railways is facing about Rs 32,000 crore shortfall in the passenger operation as it is heavily cross-subsidised from freight business.
23/08/2016 10:33
