Private players allowed to buy and lease train coaches: Indian Railways

The coaches will be available for lease, for a minimum period of five years and is extendable till the codal life of coaches.

To promote rail-based tourism, the Indian Railways will now allow interested parties to lease or buy train coaches and to run theme-based cultural-religious, and tourist circuit trains.

In a statement on Saturday, the Indian Railways said that an Executive Director (ED) level committee has been constituted by the Railway Ministry to formulate the policy and terms and conditions for the project.

Train coaches will be leased basis the desired configuration of interested parties. However, the ministry asked private parties interested in the project to develop a business model that includes routes, itinerary, tariff etc

The coaches will be available for lease, for a minimum period of five years. This is extendable till the codal life of coaches. A simple registration process will be available based upon the eligibility criteria for the interested parties.

"Indian Railways will levy haulage charges, nominal stabling charges and lease charges," the ministry statement said. However, no lease charges for outright purchase will be imposed.

The Indian Railways added that minor redevelopment of coaches as well as trading of trains or third party advertising inside the coaches are is allowed.