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Railways to invest over US$150bn in five years

One million new rail jobs expected

The Prime Minister, Narendra Modi, unveiled the plaque to dedicate the Bidar – Kalaburagi New Railway Line to the Nation, at Bidar Railway Station, in Karnataka on 29 Oct 2017. The ceremony was attended by Railways Minister, Piyush Goyal, and Chemicals & Fertilizers Minister Ananth Kumar and other dignitaries. 

The Indian Railways will invest US$150 billion over the next five years, minister Piyush Goyal said on 29 October 2017.

The Indian Railways and create one million new jobs, rail minister Piyush Goyal said on 29 October 2017.

Goyal said the investment is part of a “new direction” for the Railways which can play an important role in “aggressively pursuing” government agenda to provide safe, secure and comfortable travel.

“During the next five years, the Railways alone will be looking at an investment of upwards of US$150 billion,” he told an awards function organised by the Economic Times.

That investment would translate into one million additional jobs.

Goyal, who took charge of the Ministry of Railways in August, said his ministry was also compressing the time taken for complete electrification of rail lines to four years from the earlier plan of 10 years.

This electrification initiative would cut costs by around 30 per cent and help save the national transporter around Rs.10,000 crore per annum on fuel bill. fii-news.com

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