Indian Railways signs a mega project deal with Malaysia
After winning all the accolades for managerial skills, Lalu Prasad Yadav once again bagged limelight for Indian Railway after entering into a contract for a mega project in Malaysia to be built with the assistance of Indian Railway Construction (IRCON), a public sector undertaking of Indian Railway.
The deal came yesterday when Government of Malaysia entrusted the mega project of Electrified Double Tracking Project between Seremban – Gemas to IRCON International Ltd.
The railway minister said that the project will be completed within 48 months time with an approximate cost of one billion US dollars. The project also includes construction of 34 bridges, 107 small bridges and 8km long tunnel.
Reportedly, the first phase of this project includes completion of work up to Sangai Gaddud by July 2010.
Maintaining the contract as an important achievement in the bilateral relationship, the railway minister said that it further enhances the economic cooperation of both the countries.
Significantly, the Indian Railways made its way through the Malaysian terrain in 1988 with IRCON, which has successfully completed 11 major railway projects, including 441 kilometres of track rehabilitation and construction of 200 km new tracks.
IRCON is also known to lease locomotives to Malaysian Railways for the past few years which are being extended on yearly basis.
Speaking on function organised in his honour by Bharat Club (Association of Expatriate Indians in Malaysia) and Consortium of Indian Industries in Malaysia in Kaula Lampur, railway minister said that his department has taken an initiative to encourage Public Private Partnership (PPP) for the non-core sector in Indian Railways.
He marked that Indian Railway for the completion of its on-going projects need Rs 80,000 crore while it also sought to upgrade 26 railway stations as world class level and Eastern and Western Dedicated Freight Corridors need a huge financial and technical investment which can be done through PPP model.
The minister also invited Bharat Club to participate in important non-core Railway projects like construction of logistic parks, wagon investment scheme, wagon leasing scheme and setting up of agricultural outlets at more than 7000 railway stations, setting up of new factories for production of wagons, coaches and locomotives as well as construction of Dedicated Freight Corridors.
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