Thursday, June 15 2006 14:13 Hrs (IST) - World Time -

New Delhi: Railway Minister Lalu Prasad today (June 15,2006) asked private investors to avail of the 'liberalised' policies announced by his ministry under 'Public Private Partnership' concept for faster growth of the Railways.

"We have taken several measures to upgrade and modernise rail infrastructure. Yet we have to take more initiatives. We have also tried to liberalise our policies with regard to attract private players in the development of Railways", Prasad said here today.

Inaugutating the two-day 'Public Private Partnership Convention: India Rail", he said it was due to policies initiated by his Ministry, Indian railways have been able to earn a record profit of Rs 13,000 crores by March 31st, 2006 and we expect this to reach Rs 20,000 by 2006-07.

To achieve these objectives, Prasad said Indian Railways have initiated three projects through Joint Venture Surendranagar-Pipavav Gauge Conversion Project,Palampur-Gandhidham Gauge Conversion Project (both in Gujarat) and Hasan-mangalore Gauge Conversion project in Karnataka route by floating Special Purpose Vehicle. His two deputies, R Velu and Naranbhai J Rathwa, as also chairman Railway Board J P Batra, detailed about Railways achievements during the last two years.

They also identfied Special Economic Zone, Multi Modal Logistic Hubs, Setting up Inland Container Depots, Development of Passenger Hubs, Remote Area Conncetivity, Wagon Investment Scheme and Privatisation of Container Business as some of the areas for Public Private Partnership.