Monetisation of freight corridor assets to be done in stages: Railway Minister Piyush Goyal – The Economic Times

Clipped from: https://economictimes.indiatimes.com/industry/transportation/railways/monetisation-of-freight-corridor-assets-to-be-done-in-stages-railway-minister-piyush-goyal/articleshow/80690173.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis

Finance minister Nirmala Sitharaman while presenting the budget on Monday said that the Indian Railways will go for monetising the DFC assets as part of the government’s plans to recycle operating assets.

NEW DELHI:Monetisation of the dedicated freight corridor assets will be taken up in stages by public listing and gradual disinvestment after the freight corridor becomes fully operational, Union Railways minister Piyush Goyal said on Thursday.

Finance minister Nirmala Sitharaman while presenting the budget on Monday said that the Indian Railways will go for monetising the DFC assets as part of the government’s plans to recycle operating assets.

The eastern and western dedicated freight corridors, which are currently under implementation, are expected to be complete by June 2022.

With the capex availability of Rs 2,15,058 crore for FY ’22, Indian Railways to become the catalyst of change to “make India atmanirbhar”, Goyal said.

“The general budget 2021 has been historic for Indian Railways. It has focussed on infrastructure projects in Indian Railways,” Goyal told reporters here.

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The highest capex for Indian Railways will act as a huge catalyst to revitalise the economy, he added.

In its bid to become “future ready”, the national transporter is moving swiftly towards bigger plans like achieving 100% electrification by 2023, Net Zero Carbon Emission network by 2030, modernisation of railways, ease of ticket booking, online freight services, Goyal said.

The thrust of annual plan 2021-22 is on infrastructure development, throughput enhancement, development of terminal facilities, augmentation of speed of trains, signaling systems, improvement of passengers and users’ amenities, safety works of road over and under bridges.

Goyal said that the focus is now on completion of projects rather than on announcing new projects.

Of the current 513 ongoing projects being implemented , Railways has identified supercritical, critical projects on capacity enhancement projects on high density network routes, multi tracking projects, connectivity projects & national projects.

Fund allocation and targets have been planned for next four years, a statement from the railway ministry said. All supercritical projects will be completed by March 2022 and others will be completed by March 2024, the statement said.

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