** Sagar Sandesh print version ceases to be published from December 31, 2017. New look E-paper would be available from Jan. 1, 2018 onwards. free of cost.**

Indian Railways targets raising Rs 30,000 crore through asset monetization

For its capacity expansion plan for the next financial year, the Indian Railways expects to raise Rs 30,000 crore in the current financial year from its first asset monetisation drive.

For monetization, the Railways has lined up 30,000 km of its power transmission lines in addition to three land parcels in prime localities in Delhi and Mumbai. Through land monetization, the Railways expects to raise Rs 2,000 crores.

Railway minister Piyush Goyal had said in November that the railways is not looking at more funds in the Union Budget for 2018-19 as it is focused on monetising assets within. "Railways is looking at innovative ways to finance its expenditure," he had said.

The railways plans to spend Rs 1.4-1.5 lakh crore on capacity expansion in the next financial year, up from Rs 1.31lakh crore it expects to spend in the current year. This will be largest ever outlay for the railways.

It is said that the Railways is in talks with two public sector units that are willing to invest in the project; the railways will sell the power lines to these units and lease it back by paying a fixed fee..

A special purpose vehicle (SPV) will be set up to operate and maintain these power lines, a top railway official said.

As for land monetization, land has been identified in Sarai Rohilla and Ashok Vihar in Delhi and Bandra in Mumbai and it is said that the tenders for the land parcels will come out next year.

The national transporter expects to get almost Rs 55,000 crore from the finance ministry as gross budgetary support.

Copyright © 2018 PORT TO PORT - Shipping Services Portal ( Sagar Sandesh ). All rights reserved.

Follow Us