Moneycontrol
Feb 25, 2016 01:21 PM IST | Source: CNBC-TV18

Rail Budget 2016: To partner with global institutions to improve ops, says Prabhu

In his second Rail Budget on Thursday, Suresh Prabhu has announced turning National Academy of Railways at Vadodara into a full-fledged university.

Towards expanding railway capacity and bringing self sustainable measures for infrastructure, Railway Minister Suresh Prabhu announced setting up two new locomotive factories at a cost of Rs 40,000 crore.

Proposing to invite bids for developing few large stations under public private partnership (PPP) model, he updated that the Cabinet has already approved redevelopment of 400 stations via the PPP modal. The ministry has entered into partnerships with global institutions to improve operations, he adds

Talking on the past show, he said the railways generated 65,000 additional berths by augmenting 884 coaches. While contracts worth Rs 13,000 crore were awarded in last six years, deals worth Rs 24,000 crore were closed since November 2014. Furthermore, he added contracts for civil engineering works will soon be awarded.

In a move to facilitate hygiene, he has promised to addition of toilets at 475 stations by FY16-end.

In Prabhu's second Rail Budget on Thursday, he announced turning National Academy of Railways at Vadodara into a full-fledged university.
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