Railways on track for freight corridor project

Business
(Last Updated On: January 6, 2016)

NEW DELHI: The Railways’ are going full throttle on their Rs 22,000-crore dedicated freight corridor project.

According to sources, all clearances and approvals for the Delhi-Mumbai and Delhi-Calcutta corridors are expected to be in place prior to the Railway Budget which will be announced in February.

What’s more, PM Manmohan Singh’s diary has been blocked for March 1 to lay the foundation stones for the corridors in Mumbai and Calcutta.

Rites Ltd, the Railways’ consultancy arm, has already submitted its draft feasibility report to the Railways and this is to be discussed in the planning commission on Thursday.

However, there is still a lack of clarity or consensus on the structure of the Special Purpose Vehicle (SPV) that will own and run this ambitious project.

Earlier it was assumed that Rail Vikas Nigam Ltd (RVNL) would handle the task of constructing freight corridor, but it now appears that a fresh structure will be created for this purpose.

 

SOURCE:THE TIMES OF INDIA

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