NEW DELHI: The Public Private Partnership (PPP) mode, formulated by the Ministry of Railways under a Participative Policy (PP)-2012 has proved quite successful in yielding desired results.
Aimed at promoting investment in developing rail connectivity and infrastructures by roping in the strategic partners and other investors, the PPP mode in railways has helped the railways in achieving the set goals.
Sharing this, Union Railway minister Ashwini Vaishnaw said that the PPP mode was found a quite successful especially in providing 'last mile rail connectivity' to many ports and industrial clusters.
As the minister further shared, 14 projects in Indian Railways worth Rs 9,234 crore have so far been completed through the PPP mode. "10 more projects of Rs 19,417 crore are under implementation, including the projects related to coal connectivity and the port connectivity," the minister stated. Seven more projects of Rs 13,971 crore have already been given in-principle approval for their further commencement.
He also said that the railway is carrying out a massive modernisation process by introducing new technology-driven facilities and amenities to passengers.
"The modern technology mainly include adaptation of higher horse power locomotives, modernization of signaling and telecommunication, station development and IT-enabled services for improved customer interface and others", the minister stated.
He said that all possible funding mechanisms are explored for modernisation of railway systems and introduction of new technologies, which are met through both from budgetary and extra budgetary resources.