Date of Post: 20 Dec, 2017
NEW DELHI: The Ministry of Railways will soon send a proposal to the cabinet seeking its nod for a Rs 60,000 Crore modernization program for Indian Railways’ signalling system.
The New Modernization Program For Indian Railways’ Signalling System
- A senior government official said that it will allow trains to run at a gap of 7-8 minutes.
- “We are revamping the signalling completely,” the official told.
- The railways will upgrade the entire capacity in the country over five years. It will spend Rs 20,000 crore in the first year, he said.
About Indian Railways Electrification Program
- Railways is also working on a plan to electrify more than 30,000 km of rail lines in next five years to have 100% electrified network.
- The plan will phase out the diesel engines in 5 years and will help in cutting its Rs 26,500 Crore annual fuel bill by Rs 10,500 Crore
- Railways has a 64,000 km long network, of which a little less than half is electrified. “Electrification revamp would be done through a special purpose vehicle (SPV),” the official said.
- “Golden quadrilateral would be prioritised and then its lateral corridors may be taken up. This proposal would be taken to cabinet soon for approval. SPV would be formed by public sector entities. It could be structured like Real Estate Investment Trust (REIT),” he said.
- Railways has also decided to offer 99-year-long lease to contractors willing to invest in station and rail land redevelopment programme, to make the scheme more attractive, the official said.
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