Railways open FDI for CST-Panvel high-speed corridor

For the first time, Indian Railways have thrown open the proposed CST-Panvel high-speed corridor to foreign direct investment. The proposed project is estimated to cost around 14000 crore and will connect south Mumbai to the proposed international airport in Navi Mumbai.The project is to be completed on a Design, Build, Finance, Operate and Transfer basis. While railway board rules allows a foreign investor to put in 100 per cent FDI, the railways are willing to chip in up to 20% the project cost by way of viability gap funding.

The CST Panvel High Speed Corridor is a proposed elevated suburban rail corridor on the Harbour Line of the Mumbai Suburban Railway for air-conditioned EMUs (Electrical Multiple Units). This was proposed in the 2009-10 Railway Budget.The 48.3 km long corridor will be elevated for 31.6 km of the route and will be at grade for 12.4 km, where it will run parallel to existing lines. The corridor will also require the construction of a 4.3 km bridge over Thane Creek.

Rs 28,000 cr package for new railway lines in the Northeast

Prime Minister Narendra Modi announced 28000 cr package for the Northeast, for establishing 14 new railway lines in the region and for developing the tourism potential of the area. He is on a visit to the region, the first as Prime Minister.“So many tourists are coming here from other parts of the country and abroad. This is the best destination for tourists. But for that we require connectivity. Unless we have road connectivity, rail connectivity, air connectivity, it is very difficult to develop tourism. That is why for the development of this area and for the development of tourism, Rs 28,000 crore will be provided for a new railway-line project and 14 new railway lines”, he said.