Infra push: Railways to spend Rs. 1 trn on developing and procuring assets.

As part of the government’s infrastructure push, the Indian Railways is planning to spend more than Rs. 1 trillion on developing and procuring assets. The national transporter intends to procure 90,000 wagons over the next three fiscal years, for which the process of floating tenders will begin on March 16.

The estimated cost of this is around Rs. 31,000 crore. “Our procurement for each year will be slightly more or fewer than 30,000 wagons, but the number would be around 90,000 for the three years,” a senior railways official said. 

BS