" The proposal sought to allow FDI participation in erecting projects relating to electrification, high-speed tracks and suburban corridors."
New Delhi, Aug 6 - The government Wednesday approved a proposal to allow 100 percent foreign direct investment (FDI) for building railways infrastructure.

Foreign capital in railways was not allowed till now.

However, the new government led by Prime Minister Narendra Modi has been pushing for it to build infrastructure projects such as high-speed railways and railway lines to and from coal mines and ports.

Currently, the cash-strapped railways cannot fund these projects without private participation. Foreign players from Japan and China are said to be keen to participate in building up of the infrastructure.

The proposal sought to allow FDI participation in erecting projects relating to electrification, high-speed tracks and suburban corridors.

Last-mile connectivity to boost business activity in and around ports and mines has been proposed through formation of special purpose vehicle (SPV) companies under the public private partnership (PPP) model.


comments powered by Disqus
Read more on:
 

PERMALINK

http://www.nerve.in/news:2535002394087
You can quote the permanent link above for a direct link to the story. We do not archive or expire our news stories.


STORY OPTIONS
  Email this story to a friend
  XML feed for India


 
COPYRIGHTS INFORMATION
All rights reserved for news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.
Contact Nerve Staff for any feedback, corrections and omissions in news stories.
 

All rights reserved for the news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.