A proposal by Indian Railways, Asia’s oldest network, to step up wagon production with at least seven new factories is raising concerns at suppliers Titagarh Wagons Ltd. and Texmaco Rail & Engineering Ltd.
Indian Railways, Asia’s oldest network, plans to link passengers fares and freight rates with fuel prices for the first time as it seeks to cut more than $4.5 billion of losses stemming from below-cost tariffs.
Rajeev Jyoti , head of Indian transportation at Bombadier Inc. , comments on the Indian Railways’ annual budget, released today by Minister Mamata Banerjee . She said the $12.7 billion plan outlay for the year starting April 1 will promote private industry participation through public-private partnerships.
Coal India Ltd., set to build a $1.4 billion railway link through its three richest mining regions, said the untapped pits will help the world’s second-biggest thermal coal importing nation end overseas purchases.