Approval of Railway Initiatives Valued at Rs 88,875 Crore to Enhance Three Economic Corridors
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New Delhi, Dec 29 (NationPress) A total of 58 railway initiatives have received approval across three economic corridors, with a total projected expenditure of approximately Rs 88,875 crore and a cumulative track length of around 4,107 kilometres planned for 2024. This initiative aligns with the Centre's efforts to stimulate economic advancement through substantial infrastructure projects, as detailed in the year-end assessment of the Indian Railways.
The sanctioned projects incorporate Energy, Mineral, and Cement Corridors, High Traffic Density Routes, and Rail Sagar corridors.
A comprehensive plan includes a total of 434 projects earmarked for execution within these three corridors.
The Energy, Mineral, and Cement Corridors comprise 51 projects, extending over 2,911 kilometres with an estimated completion cost of Rs 57,313 crore.
The High Traffic Density Routes entail 5 projects, covering a distance of about 830 kilometres and incurring costs of approximately Rs 11,280 crore.
The Rail Sagar corridor encompasses two projects, with a total track length of around 366 kilometres and a completion cost estimated at Rs 20,282 crore.
The total capital expenditure (Capex) for 2024-25 stands at Rs 2,65,200 crore, marking the highest allocation in the budget to date.
In an effort to attract industrial investment for establishing cargo terminals along railway routes, Gati Shakti Multi-Modal Cargo Terminals (GCT) are being developed nationwide.
To date, 354 locations (comprising 327 on non-railway land and 27 on railway land) have been pinpointed across the nation. This year alone, 91 GCTs have been inaugurated.
To accelerate project timelines, Indian Railways has streamlined its engineering and project management procedures. All lingering cases from the Engineering Department across various Zonal Railways on the Indian Railways E-Procurement System (IREPS) have been resolved under a one-time settlement initiative dubbed 'Vivad Se Vishwas II' (Contractual Disputes).
In response to ambiguities in the Engineering Procurement and Construction (EPC) tendering process, a new 'Schedule G-1' has been introduced for the Bill of Quantities concerning itemized works, as noted in the review.
