Business transformation council to increase Pvt investors in Indian Railways: Suresh Prabhu

Source:  www.indiainfoline.com

Indian Railways will set up a business transformation council (BTC) to enhance partnership with private sector investors and raise efficiency and speed in implementing the Rs 8.5 lakh crore projected investment in coming five years, Minister for Railways, Suresh P. Prabhu said at an ASSOCHAM event held in New Delhi.

Ministry of Railway has signed an MoU with LIC which will bring Rs. 25 billion dollar to Indian railway in next 5 years at a very attractive rate of interest, said Prabhu while inaugurating International conference on Railways @ 2020 organized by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).

He revealed that the World Bank would also support the five year expansion plan besides “Other Multi-Lateral Agencies” like the Asian Development Bank (ADB) and the International Finance Corporation (IFC) and other source. More info

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