Indian Railways Proposes PPP For Project Development
By Anuja Abraham
A number of areas/projects have been earmarked for execution through Public Private Partnership. These include an elevated rail corridor (Churchgate-Virar), high speed corridors, redevelopment of stations, logistics parks, private freight terminals, leasing of wagons and other freight marketing schemes, port connectivity, dedicated freight corridors and loco and coach manufacturing units etc.
A draft policy for private participation in capacity augmentation and connectivity projects containing different models for different categories of such projects has been prepared. This covers (i) Non-Government Railway lines; (ii) Special Purpose Vehicle through Joint Venture; (iii) BoT (Build Operate Transfer); (iv) BoT- Annuity; (v) User funded lines to be used as multiple user lines; and (vi) capacity augmentation funded by customers. The draft policy also envisages greater participation of State Governments Railway Projects.
A system of regular monitoring of projects exists at various tiers of the Railway Administration to avoid cost and time overruns. All efforts are made on a continuous basis to complete the projects in time depending upon availability of resources.