The Union government accorded an in-principle approval for the Pune metro plan. The project will cover 31.51 km along two corridors-PCMC building to Swargate and Vanaz to Ramwadi. The approval will enable the state to start for the early implementation of the project through a special purpose vehicle, equally and jointly owned by the Centre and the state government. However, the approval is not a prior approval for the project in part or whole for financial assistance.
Category: Railways & Metro Rail
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Decision on FDI policy in Railways soon
Commerce and Industry Minister Anand Sharma said that the Cabinet will soon take a view on liberalising foreign direct investment (FDI) policy in railways sector. The department of industrial policy and promotion (DIPP) has proposed to allow 100 per cent FDI in high-speed train systems, suburban corridors, high-speed tracks and freight lines connecting ports and mines. However, existing passenger and freight network operations will not be opened to foreign investors.
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Security concerns on rail FDI proposal
The Home Ministry and the Department of Economic Affairs (DEA) have cautioned the government on relaxing FDI policy in Railways, citing security concerns, especially with regard to investments from China in this sensitive sector. In its comment on the proposal of the Department of Industrial Policy and Pro-¡motion (DIPP), the Home Ministry said Chinese investments in such a sensitive sector should be viewed with caution.
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Three states to sign MoU on tricity metro project
Punjab, Haryana and Chandigarh will sign a memorandum of understanding (MoU) related to the ambitious metro rail project.
Recently, all the three stakeholders had agreed upon the terms and conditions of the MoU and the approval of the same was conveyed to the government of India.
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Chennai Metro by Oct
After conducting successful trial runs, the Rs 14,600 crore Chennai Metro Rail Project is expected to commence commercial operations on its first line by the end of 2014, covering around 11 km between Koyambedu and St Thomas Mount. The state administration said the project was progressing well, and would ensure faster clearance from the Centre for the Washermanpet to Thiruvottriyur corridor, besides taking up the Detailed Project Report (DPR) for Phase II of the project.
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FDI in railways
Railways has clarified that any investment through FDI would be limited in scope and only cover aspects like laying of tracks for last mile connectivity. However, FDI would not be allowed in train operations, safety, etc, According to sources from Railways. Currently, PPP is allowed in port connectivity. According to ministry officials, the FDI plan has already been submitted to DIPP, which is expected to ready a cabinet proposal in that regard early next year.
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jaipur Metro phase-I(B) to be reviewed
Chief Secretary Rajiv Mehrishi will review the Jaipur Metro Phase-I(B) project. The underground project is proposed from Chandpole to Badi Chaupar. The Chief Secretary was appointed to review the project, after the Jaipur Metro Rail Corporation (JMRC) gave a presentation of the proposed Jaipur metro phases.
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Bharuch-Dahej Rail line to generate Rs 1,000-cr revenue
In Gujarat, the 64-km-long Bharuch-Dahej Rail Corridor (BDRC) that passes through a fast-growing industrial zone is looking to tap Rs 1,000-crore annual revenue by the end of the current fiscal. The Corridor is to become functional in the next six months to handle bulk and container cargo.
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IVRCL to raise Rs 1,200 cr for capital needs
To supplement its working capital requirements, Hyderabad-based IVRCL is to raise Rs 1,200 crore and infuse capital into new projects. To facilitate fund-raising, the construction and infrastructure company has enlisted the services of SBI Caps, sources said.
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Railways invites tender for 11,728 wagons
After a gap of more than two years, the Indian Railways will procure wagons. A tender has been floated for a total of 11,728 wagons of six types, including the standard ones for coal and iron or