26Feb

Rail Budget 2015-16 India Update : Suresh Prabhu’s Speech (PART 8)

Rail Budget 3

Mr. Suresh Prabhu’s Speech Continues…

F. Partnerships for development

77.We will revamp the existing PPP cell in the Ministry to make it more result oriented. PPP will help in creating more jobs in the economy besides augmenting capital for improving Railways.

78.Railways have launched new Model Concession Agreements recently for many of the participative models, and guidelines for this have been issued. Projects for rail connectivity to many ports and mines are being developed under participative models. Standardisation of contractual framework that ensures a level playing field, simplification of procedures and consistency of policy will be ensured.

79.Technology intensive and complex projects like speed raising and station redevelopment require lot of handholding by a specialized agency in terms of preparatory work, exploring technology options and managing bid processes. Indian Railways have signed in the past MOUs for technical cooperation with number of foreign railways or their entities. We propose to launch “Foreign Rail Technology Cooperation scheme”, in order to achieve the higher quality service for our nation.

80.The suburban rail networks are the lifeline for metro cities of Mumbai, Kolkata and Chennai. To meet growing demand there is an urgent need for integrated transport solutions. We will work with all states towards this end. We propose to take up MUTP III for Mumbai.

81.Expansion of railway network to remote and backward areas serves as an engine for growth and brings overall socio-economic development in the region. We propose to set up joint ventures with States for focused project development, resource mobilization, land acquisition, project implementation and monitoring of critical rail projects. I am happy to share that most of them have conveyed their acceptance to our proposal.

82.Railways have a big shelf of projects, which require to be executed at a fast pace. The expertise of Railways PSUs will be used by leveraging their balance sheets to expedite the completion of identified projects within specified time lines and to undertake a higher volume of activities.

83.It is also proposed to set up JVs with our major public sector companies who are our customers for meeting their requirements of new lines. Such focused execution of works will ensure faster completion and ultimately provide the much needed path for them to transport their produce and at the same time generate revenues for Railways.

Mr. Suresh Prabhu’s Speech Continues…

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