Railways to invest Rs 9 lakh cr in 5 years for modernisation

Japan agrees to modernise 400 stations

Japan has agreed to modernise 400 railway stations across the country while participating in Indian Railways’ $140 billion (Rs 9,24,000 crore) investment plan over the next five years.

A Japanese delegation will soon visit India to study the opportunities for industries in the railway station development plan of railways as the public transporter has identified 400 stations to be upgraded in private investment, an official release said here on Wednesday.

Railways Minister Suresh Prabhu, in Japan to strengthen cooperation in the sector, held meetings with Japanese Prime Minister Shinzo Abe, Deputy Prime Minister and Finance Minister Taro Aso, among others. Participation of Japanese railways and Japanese companies in various areas of Indian Railways with the aim of modernisation and technology upgradation was also emphasised in the discussions.

While agreeing for cooperation on modernisation and upgradation, Japan has agreed to assist the public transporter in achieving its zero-accident mission.

Railways research wing,  the Research Designs & Standards Organisation (RDSO), will sign an agreement with Railway Technical Research Institute of Japan for research work on acquiring modern technology for the public transporter, according to the finalisation of the action plan.

Prabhu also held meetings with heads of leading financial institutions and highlighted the investment prospects in railways in the coming years.

Japan will also provide its expertise and technology in solving problems of sanitation including the development of waterless, odourless toilets in trains and at stations, it added.

Besides, the country has also agreed to assist Indian Railways in development of a legal and regulatory framework on high speed railway here, the official statement said.

Prabhu is on a two-nation visit to Japan and South Korea since September 7.