Global investors welcome to participate in Railways upgrade: Piyush Goyal

Goyal, who is in Davos to attend the World Economic Forum annual meeting, said there is a huge scope for innovations in railways including in signalling systems for which latest technologies of the world are being brought in.

By: PTI | Davos | Published: January 24, 2018 1:07:10 pm
piyush goyal, union railway minister, davos, world economic forum, wef Piyush Goyal, Minister of Railways and Coal of India, smiles during the World Economic Forum (WEF) annual meeting in Davos. (Reuters Photo)

Promising a major technological and modernisation upgrade at railways, Union Minister Piyush Goyal said there are plans to equip the entire rail network with Wi-Fi and CCTV system and foreign investors are welcome to participate in this growth story.

Goyal, who is in Davos to attend the World Economic Forum annual meeting, said there is a huge scope for innovations in railways including in signalling systems for which latest technologies of the world are being brought in.

“Currently age old systems are there which even cause safety issues. We are working on a major upgrade for them,” Goyal told PTI in an interview in Davos on the sidelines of the WEF.

“We will also consider putting in place WiFi and CCTV networks for entire rail network to make Indian railways at par with the best in the world in terms of safety as well as public convenience,” the railway minister said.

Goyal said the government wants to make the track safety systems very robust with the use of technology and it has already started the bullet train project.

“The first has been launched and we want to put in place a web of bullet trains across the country. There are programmes on tables for dedicated freight corridors and you can expect huge changes in railways space in coming future. A lot of programmes are on table,” he said.

Goyal said railways is also inviting foreign investors. “The kind of huge orders we talking about for various modernisation and technology upgrade projects, I’m sure everyone would like to participate. Two factories are being already set up in Bihar,” he said.

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