Indian Railways is likely to have more Foreign Direct Investment (FDI) from the United States.
The national transporter will receive financial assistance from the World Bank for modernisation, claim railway ministry officials.
“The recently concluded visit of Railway Minister Suresh Prabhu has been very successful and we can hope more FDI from the US and an increased financial assistance from the World Bank,” said a senior official. The official cited Prabhu’s meeting with the World Bank officials at Washington last week and said that the Bank has agreed to invest in the proposed Railway Development Fund. The fund is being created to modernise Indian railways.
The railway minister had meetings with the government officials, policy makers and business community to woo FDI in railways.
He highlighted that the ministry has permitted 100 percent private sector investment in most segments of the railway infrastructure such as suburban rail, metro rail, locomotives and rolling stock, manufacturing and maintenance, signalling and electric works and dedicated freight lines.
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