RITES, Ircon express readiness to invest in rail projects


DELHI

Several key projects worth more than Rs 1.7 lakh crore have been
deferred from year to year because there isn’t money for them

Cash-rich subsidiaries of Indian Railways have volunteered to bail out their fund-starved parent, offering to take up projects for which the ministry doesn’t have funds or private investment is not forthcoming if a suitable model that assures returns can be arrived at. Several key projects worth more than Rs 1.7 lakh crore have been deferred from year to year because there isn’t money for them.

Rail India Technical and Economic Services (RITES) and Indian Railway Construction Co. (Ircon) have written to the Railways expressing their willingness to manage and invest in rail projects in the country. The Railway Board is yet to take a decision on the matter, an official familiar with the plan told ET.

Full report here Economic TimesĀ 

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