Railways keeps off market for funds so far this fiscal

[RISING SUN]

Railways keeps off market for funds so far this fiscal
New Delhi, Sept. 9:

For the first time in at least eight years, Indian Railways has not mopped up funds from the market even though almost half the financial year is over, signalling a sound financial run.

Thanks to an across-the-board freight rate hike of 24-28 per cent in March, the Railways’ financial position has been looking up. Revenues from freight registered 26 per cent growth for the first four months despite loadings going up by a much lower level of 4.3 per cent. Freight earnings account for almost 70 per cent share of its total earnings.
Can delay borrowing

In this backdrop, the Indian Railway Finance Corporation (IRFC), the fund-raising arm of the Railways, can afford to delay its borrowing in the current fiscal, given the tight liquidity situation in the market. IRFC has to raise Rs 15,000 crore, of which Rs 10,000 crore will be tax-free bonds. It is yet to get the Finance Ministry’s nod for this. So, the first round of fund-raising appears unlikely before October. IRFC funds are primarily used to buy rolling stock, such as locomotives, wagons and coaches. This ensures that the loans are securitised against rolling stock, allowing it to access cheaper funds.

In 2011-12 fiscal, IRFC raised funds at a weighted average interest rate of 8.73 per cent, which was 0.57 per cent lower than the average cost achieved by all AAA-rated entities put together. Till date, it has acquired 6,073 locomotives, 36,613 passenger coaches and 162,238 freight wagons for the Railways, which are valued at Rs 82,447 crore.

“This is a first such occurrence since 2004,” said a source.
Rolling stock

On whether the delay in raising funds was because of a possible slowdown in acquisition of rolling stock, Vijaya Kanth, Finance Commissioner, Railway Board, recently told Business Line that there was no slowdown in rolling stock acquisition and this was more a reflection of the of the financial health of the Railways.

In fiscal 2011-12, the IRFC funded the acquisition of 506 locomotives, 2,757 passenger coaches and 13,208 freight wagons, valued at Rs 12,604 crore. This was the highest ever funding of rolling stock by IRFC.
Business Line : Industry & Economy News : Railways keeps off market for funds so far this fiscal
Way to guy.

 

[RISING SUN]

Rail travel is best way to see India: Lonely Planet founder
Intrepid traveller Tony Wheeler whose trip 40 years ago to Asia, that included India, resulted in a series of cult tourist guidebooks believes that rail travel is just about the best way to experience the country. "The railways are a real part of India. From hopping on to the toy train in
Darjeeling to taking locals I have had some really amazing trips across the country on trains. At one point I even had a monthly rail travel pass," says the man who co-founded the Lonely Planet company.

Wheeler was in the city to participate in the launch last evening of 10 travel guides customised especially for Indians.

Accompanied by wife Maureen he had first come to India in his 20s during a time when travel to the exotic east was fashionable and loads of tourists would take the "hippy trail" land route across Asia.

Low on funds, Wheeler wrote and self published "Across Asia On The Cheap" the first book from the Lonely Planet house, which generated a lot of interest worldwide.

"I visited India first 40 years ago in 1972 and it was the halfway mark in my travels across Asia. Today India has changed enormously. Then making a phone call home was a nightmare compared to today when there are mobile phones and so many gadgets," says the 64-year old Wheeler who is in India "fairly regularly."

Having travelled to 154 countries and counting, Wheeler who divides his time between his homes in London and Australia says there are still places to go and people to meet.

"In India I have not been to the Hampi and the Andaman Islands and that tops my agenda now. There is also a small place south of Mumbai and on the way to Goa which would be whetting my appetite," says Wheeler who has already planned a trip in January next year. Perhaps the most travelled man, Tony Wheeler says his basic tools remain a paper notebook and credit card.

"All you need is a passport and a credit card. You can end up losing your luggage in your travels and then you are stranded. Of course I carry a notebook and pen in my pocket to record my thoughts wherever I go even though I have started using a laptop," he says.

"Travelling by rail is a delightful experience. The heat is oppressive during the day but the coolness of the early dawn is very delicious. Yes there are now a lot of low cost flights but nothing like railways," he says.

Even though Wheeler sold the "Lonely Planet" he continues to remain a sort of mascot for the company which has brought out one hundred million travel guides and makes available over 500 titles in 9 languages.

"The new guidebooks are aimed at the Indian traveller and work on how to get information more targeted for them. We think the Indian traveller is likely to travel with family with kids and parents. We have information on vegetarian food, and other specifics like must see places and things to do," he says.

Priced between Rs. 495 and Rs. 595 the "Lonely Planet for the Indian traveller" guides for Singapore, Thailand, Hong Kong, Dubai, Bhutan, China, Great Britain, London, France and Italy have been written by Indian authors living in respective countries.
Rail travel is best way to see India: Lonely Planet founder - Hindustan Times

 

[RISING SUN]

The city is set to get its first stainless steel rake within the next six to seven months. The rake will be procured under the Mumbai Urban Transport Project-II (MUTP-II). Railway authorities have finalised designs for the new-age local trains, estimated to cost around Rs. 40crore
each.

Research Development Standardisation Organisation (RDSO), the technological brain of the Indian Railways, has finalised the designs of the motors, electrical equipment and other internal aspects of these rakes.

A senior railway official said that all the new rakes will have advanced technological features. He also added that since everything was in place, development of the first prototype would begin soon.

The railway has planned to procure 72 new rakes under the Rs. 5300-crore MUTP-II project, sanctioned in 2008-09.

The Canadian firm Bombardier has bagged the Rs. 1034-crore contract for supply of electrical equipment.

The Mumbai Railway Vikas Corporation (MRVC), the executing authority for the project, had organised a meeting of all its stakeholders a few days ago at its Churchgate office. Various aspects of the designs of MUTP-II locals were discussed.

Officials of RDSO and the Chennai-based Integral Coach Factory (ICF), which is going to develop these rakes, were also present at the meeting.

Around 70 modifications were made before the final designs were approved. According to sources, the new rakes will have a three-phased propulsion system, a microprocessor-controlled IGBT based technology, and an aerodynamic design, besides being faster.

The ICF is going to design two prototype rakes, the first of which is expected to reach the city by next March or April, said a railway official. The National Institute of Design (NID), which had designed the interiors and exterior of the current white and purple locals, has been appointed for the new rakes as well. “The designs are expected in a couple of months,” added the official.
Designs for new stainless steel train rakes ready - Hindustan Times

 

[kingkobra]

The city is set to get its first stainless steel rake within the next six to seven months. The rake will be procured under the Mumbai Urban Transport Project-II (MUTP-II). Railway authorities have finalised designs for the new-age local trains, estimated to cost around Rs. 40crore
each.

Research Development Standardisation Organisation (RDSO), the technological brain of the Indian Railways, has finalised the designs of the motors, electrical equipment and other internal aspects of these rakes.

A senior railway official said that all the new rakes will have advanced technological features. He also added that since everything was in place, development of the first prototype would begin soon.

The railway has planned to procure 72 new rakes under the Rs. 5300-crore MUTP-II project, sanctioned in 2008-09.

The Canadian firm Bombardier has bagged the Rs. 1034-crore contract for supply of electrical equipment.

The Mumbai Railway Vikas Corporation (MRVC), the executing authority for the project, had organised a meeting of all its stakeholders a few days ago at its Churchgate office. Various aspects of the designs of MUTP-II locals were discussed.

Officials of RDSO and the Chennai-based Integral Coach Factory (ICF), which is going to develop these rakes, were also present at the meeting.

Around 70 modifications were made before the final designs were approved. According to sources, the new rakes will have a three-phased propulsion system, a microprocessor-controlled IGBT based technology, and an aerodynamic design, besides being faster.

The ICF is going to design two prototype rakes, the first of which is expected to reach the city by next March or April, said a railway official. The National Institute of Design (NID), which had designed the interiors and exterior of the current white and purple locals, has been appointed for the new rakes as well. “The designs are expected in a couple of months,” added the official.
Designs for new stainless steel train rakes ready - Hindustan Times

Haha and I will now be going to office on my bike
thank you MRVC

 

[RISING SUN]

Soon: Bullet trains for tortoise tracks
The railways have decided to go in for six bullet train-sets at an estimated cost of Rs. 25,000 crore and an announcement is expected in the next rail budget. Bullet trains are capable of clocking a speed of 325 kilometres per hour. But in the absence of requisite
infrastructure, these will run at an 110 kmph on existing broad-gauge routes.

Japanese, French and German consortia are in the race to sell these train-sets, even as the Japanese are sponsoring a study on high-speed rail possibilities in India.

Justifying the “piecemeal and premature” acquisition proposal, an official said, “Such projects have a long gestation period, but one has to start somewhere.”

The Japanese consortium has quoted a price of Rs. 54 crore per coach — the cost of the train-set working out to approximately Rs. 900 crore

“We will go in for some mix-and-match to negotiate a better price. Each train-set should come at a cost of about Rs. 300 to Rs. 400 cr,” an official said.
Soon: Bullet trains for tortoise tracks - Hindustan Times