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Asia Today ISSN 1861-4604 Saturday, May 27, 2017

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ndia engages in talks with top global firms to collaborate on high-speed trains

Train speed over 600 kms per hour

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CHENNAI, U.S. - India is said to be engaged in advanced level talks with six global companies in a bid to pace ahead in its plans to introduce high-speed trains in the country. 

Addressing a press conference on the sidelines of the Confederation of Indian Industry (CII) event, India’s Union Railway Minister Suresh Prabhakar Prabhu has confirmed talks.

Prabhu further added that the country is talking to top companies that have the necessary technology to work on trains that can speed over 600 kms per hour. 

He said, “We called for six top global companies who have technology that can travel beyond the 350km/hour speed. These trains can travel upto 600kms/hr speed. We called them and we told them that we will develop with you.”

Further adding, “Six companies have come forward and the talks are in advanced stages. If they could manufacture such high-speed trains, the country would also be able to export it.”

Prabhu said that the project was part of the ministry’s vision plan for Railways 2030 and that it could take ten years to complete. 

Further, addressing the Tamil Nadu State Annual Meeting and Tamil Nadu Business Leaders' Conference organised by CII, Prabhu said, “For the first time we are preparing a strategic plan to invest and decide on how railway network should be developed.”

He said that Railways is planning to save around Rs 41,000 crore through energy savings.

Adding that the railways sector will earn a revenue of Rs 17,000 crore through non-traditional sources over the next decade and that it is committed to raise Rs 66,000 crore to meet the developmental works.

The minister further confirmed that the ministry is working to find funds for development through joint ventures and also has drawn a business plan for 2017-18 to increase its revenues.

Prabhu also explained that the huge investments were focused on ensuring safety, upgrading technology, and enhancing speed and comfort of rail users.

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