Suresh Prabhu gets funds for railways expansion

GN Bureau | September 2, 2015




The railways have finally identified the projects that will be funded by the Rs 1.5-lakh-crore loan that Life Insurance Corporation (LIC) has extended to the cash-strapped organization for the next five years.

Railway officials claim that the organization is under close scrutiny of prime minister Narendra Modi, who thinks that a robust railways can greatly contribute to the country's economy, reports Economic Times.

Initially struggling to identify projects to be funded by the LIC, the railways have now shortlisted 24 corridors for expansion and strengthening from the loan money.

The railways had signed an MoU with LIC in March to meet its capital requirement for network decongestion and expansion by 2019. Railway officials say though there is "endless work" to be done in railways, it took them time to find projects for LIC since the insurer was keen to invest only in financially viable projects that earned a rate of return (RoR) of at least 14% every year.

Since the priority of railway minister Suresh Prabhu is network decongestion, 24 congested corridors have been identified. Most of the sections in the corridors will yield a high RoR, going as high as 48% like the Rajkharsawan-Sini section in the Howrah-Mumbai corridor.

The identified corridors include the golden quadrilateral—Howrah-Channai, Delhi-Howrah, Howrah-Mumbai, Delhi-Chennai, Chennai-Mumbai and Mumbai-Delhi. In addition, some other corridors have been identified like the highly congested Amritsar-Ludhiana-Saharanpur-Moradabad-Lucknow-Sultanpur-Zafrabad-Mughalsarai-Varanasi route.

Comments

 

Other News

80 percent abortion in India through medicines: Lancet

 Three in four abortions in India are through drugs from chemists and informal vendors rather than from health facilities, said a report in The Lancet. An estimated 15.6 million abortions were performed in the country in 2015, reports The Lancet in its latest released paper on ‘Inciden

A turbulent journey so far for seaplanes in India

Prime minister Narendra Modi’s seaplane ride in Gujarat is certainly unique, but it is not as historic as it is being made out to be. Gujarat chief Minister Vijay Rupani said this is for the first time in the history of the country that a sea-plane will land on a water body and that wi

GAIL fast tracks implementation of Pradhan Mantri Urja Ganga project

 GAIL has awarded a contract for laying 520 km gas pipeline connectivity from Dobhi (Bihar) to Durgapur (West Bengal), including 120 km line to Jamshedpur (Jharkhand). With these awards, major contracts for phase two of the Jagdishpur-Haldia and Bokaro-Dhamra natural gas pipeline (JHBDPL) project have

Indane LPG refill booking through FB, Twitter launched

 IndianOil corporation (IOCL) has launched Indane LPG cylinder refill booking through social media platforms like Facebook and Twitter. Director (marketing) Gurmeet Singh emphasised on the need to leverage technology and the growing social media to provide simpler and effective options to cu

Time for India to adopt DNA forensics to solve crime

Forensic DNA has emerged as the world’s greatest crime fighting technology. Many countries are effectively using forensic labs and protocols to collect, test and compare DNA at crime scenes with that of suspects with promising results. While the law machinery the world over is increasi

Do you think sea-planes can be used to improve air connectivity?

Do you think sea-planes can be used to improve air connectivity?



Video

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter