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• Burdened with pending projects and resource crunch, railways has taken a decision to complete most of the ambitious railway projects on public-private partnership (PPP) basis in the next fiscal year. It has selected some of the important projects, including those allocated to Bihar long back, for this purpose. According to railway ministry sources, a draft policy has been prepared to invite private participation to complete the pending projects. Railways is also hopeful of getting foreign investors for expanding its network across the country, sources said. A Railway Board official said railways has so far selected six projects for execution on a priority basis in PPP mode. These include diesel locomotive and electric locomotive factories in Bihar. The draft policy has also sought to attract state governments to play a proactive role in developing and implementing various pending railway projects in their respective states, he said.
• Under the draft policy, the railways basically aims at ensuring returns on investments to be incurred on various ambitious projects. It would also ensure timely availability of rail infrastructure to its beneficiaries such as port, industry and states, said the official. According to sources, railways has already invited several local bodies, ports, large import and export companies, cooperative societies, infrastructure and logistics providers for expanding rail network in their respective areas so that it could generate higher revenues, sources said, adding a few overseas corporate bodies and foreign investors have shown interest in some railway projects.
• The draft policy also envisages using private land for better railway connectivity. Besides, railways would require at least Rs 5 lakh crore to take up several important projects in the country in the next fiscal year. Hitherto, the railways is saddled with problems like delay in project execution and cost overrun. According to a Board official, the draft policy would replace the old ones - R3i and R2Ci - as these policies have not achieved the desired results so far.

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