Rlys to raise Rs 72,800 cr for capex
The Indian Railways intends to raise Rs 72,800 crore from the overseas and domestic markets to part-finance its Rs 2,51,000-crore capex plans for the next five years.
By TNN |
KOLKATA: The Indian Railways intends to raise Rs 72,800 crore from the overseas and domestic markets to part-finance its Rs 2,51,000-crore capex plans for the next five years. It is considering possibilities of raising a portion of the requisite funds through external commercial borrowings and from multilateral funding agencies. “The money will go into creating the proposed freight corridors, doubling of lines, electrification, gauge conversion and rolling stocks. We have recently submitted the proposal to the Planning Commission,” VN Mathur, member traffic, Railway Board, said.
Mr Mathur added, “Of the Rs 2,51,000 crore, about Rs 90,000 crore will be Railways’ internal generation. We intend to raise about Rs 72,800 from the markets and this may also include ECBs. The Railway Board has also decided to approach multilateral agencies like the Japan Bank for International Co-operation to raise a portion of the funds.” On the Delhi-Mumbai freight corridor, he said the railways has decided to set up logistics hubs and warehouses on the corridor to enable easy movement of goods.
This is also expected to attract banks to these locations.”
Mr Mathur added, “Of the Rs 2,51,000 crore, about Rs 90,000 crore will be Railways’ internal generation. We intend to raise about Rs 72,800 from the markets and this may also include ECBs. The Railway Board has also decided to approach multilateral agencies like the Japan Bank for International Co-operation to raise a portion of the funds.” On the Delhi-Mumbai freight corridor, he said the railways has decided to set up logistics hubs and warehouses on the corridor to enable easy movement of goods.
This is also expected to attract banks to these locations.”
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