Mass Promotion ‘Make in India’ for Indian Railways! Recently, the Modi government has announced two main initiatives to seek private investment, one is the running of passenger trains by private operators on the Indian Railways network and the other is the redevelopment of railway stations across the country. According to Indian Railways, these projects have the potential to bring in an investment of over $ 7.5 billion over the next five years. The national carrier has stated it is looking at over $ 4 billion in investments with private passenger train services. Recently, the Ministry of Railways headed by Piyush Goyal has invited domestic as well as global investors to actively participate in the bidding process for these initiatives.
The private investor will be responsible for finance, design, procurement, maintenance, operation of trains along with the configuration or updating of train maintenance depots. Also, the investor will be responsible for the punctuality, reliability and maintenance of the trains. Giving a ‘Make in India’ boost, the investor will secure resources through domestic production in one phase (only three trains can be imported). On the other hand, Indian Railways will provide access to railways and other fixed infrastructure, at the top of the road, access to the landfill site, as well as access to washing lines. The national carrier will also provide an equal advantage to premium Indian Railways trains. To operate the trains, the pilot and location guards will be provided by Indian Railways as well.
Indian Railways has identified 12 independent groups with 109 origin-destination routes. On these lines, up to 151 passenger trains are expected to be operated by private players. According to the national carrier, some of the reasons to invest in this project are proven unfulfilled demand, long-term concession, infrastructure created, operational freedom. During 2019-19, the total number of passengers of non-suburban origin was 3.65 billion and the number of passengers on the waiting list was 88.5 million.
Private investor rights will include price, service and operational flexibility. Also, the investor will have the right to choose prohibitions, freedom of procurement of rolling stock. Liabilities and payments to investors include fixed transport tariffs, indexed annually; energy tariffs by facts and% of gross revenue share.
It will be a two-stage bidding process. The first phase includes RFQ for pre-qualification based on financial capacity (50% of the estimated cost of the project) and the second phase includes RFP financial offers.
Speaking about the importance of the project, Amitabh Kant, CEO, Niti Aayog said, “This is a paradigm shift in what Indian Railways has done … it will rewrite India’s growth history. Private entities will source and operate “Trains using Indian Railways infrastructure. This is a win-win situation for the private sector and Indian Railways. It involves an investment of about Rs 30,000 crore of $ 4.3 billion. The aim is to meet unmet requirements.”
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