New Delhi : Now private companies are going to build railway tracks in India and run trains on them. 6 routes have been fixed for this. Indian RailwaysThere will be a share in this. The Union Finance Ministry has approved this proposal. The Public-Private Partnership Appraisal Committee of the Union Finance Ministry has approved such a proposal. It is proposed to develop 6 railway corridors in the country using hybrid annuity model.
It has been informed that private companies will build the same type of railway lines as are currently being built. Indian Railways has laid down six railway lines with a total length of 647 km. These routes will be built under the Hybrid Annuity Model (HAM). Private companies will contribute 60 percent and railways will contribute 40 percent towards the cost of the project.
Developed on hybrid annuity model
It was initially planned to be developed in a 6-way design, build, finance, operate and transfer formula; But now it has been decided to develop it on hybrid annuity model. Because the Ministry of Railways had received feedback that no private company would be willing to invest 100 percent for the railway line. PPPAC has sanctioned 6 railway lines. Of these, 4 are said to be in Odisha, one in Telangana and one in Jharkhand.
Will be sent to Cabinet for approval
Meanwhile, the proposal will be sent to the Union Cabinet for approval within a few days. Once approved, tenders will be invited. Notably, this is the first time that a new railway line project is being developed under the Public-Private Partnership formula. The estimated cost of the project of these 6 new railway lines is Rs. 15,976 crores. If the entire grace period is taken into consideration, the total capital cost of these projects will be Rs.40,866 crore. It is believed that this route will mainly transport coal, iron ore, bauxite, iron smelting coal or coke, chemical fertilizers, cement and some grains.
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