Financial Daily from THE HINDU group of publications
Friday, Apr 29, 2005
Financial Daily from THE HINDU group of publications Friday, Apr 29, 2005 |
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Logistics
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Railways Trans-Asian rail corridor — BIMS-TEC team to be formed to coordinate regional issues Our Bureau
Mr R.K. Singh (right), Chairman, Indian Railway Board and Chairman, World Executive Council (WEC), and Mr Philippe Roumegere, CEO, Union of Railways (UIC), at a press conference in Bangalore on Thursday. — G.R.N. Somashekar
Bangalore , April 28 AN international rail council meeting that got off here on Thursday has decided to have the Asia regional coordination team in place by June for pursuing the trans-Asian rail corridor. The committee would be drawn from BIMS-TEC nations to coordinate the regional issues related to the inter-continental rail corridor that is meant to link Asia with Europe. The trans-Asian corridor is one of the subjects being debated at a three-day meeting of the International Union of Railways (UIC) World Executive Council (WEC). India, the current chair, is hosting the 19th annual WEC meeting for the first time, said Mr R.K. Singh, Railway Board Chairman, and current Chairman of the council. The grouping would by June-end identify rail-related regional issues that need to be taken up. It involves the BIMS-TEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) nations — Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal. Such a rail project cutting through India, Bangladesh, Pakistan, Iran, Cambodia, Thailand, China and Bulgaria would boost the low inter-continental freight movement along railways, Mr Singh said. WEC is the highest decision making body under the non-governmental international coordination body — the Paris-based UIC. It has identified high-speed passenger and freight systems as a thrust area to meet growing transportation and efficiency needs. A Mumbai-Ahmedabad `Indian TGV' was one such being considered, Mr Singh told a news conference attended by the CEO of UIC, Mr Philippe Roumeguere. Likewise, a plan for dedicated freight corridors linking the metros was before the Planning Commission. New mechanisms to meet investment needs of the future would be discussed. UIC estimates that India, China and Europe would need euro 1,000 billion of investment in the next 15 years. According to Mr Singh, by July, the NF railway would be the first to have anti-collision devices that would be extended to other divisions. Indian Railways had showed a significant growth of eight per cent in freight traffic and six per cent in passenger share during 2004-05, he said. Seventy-five representatives from 30 member countries of the council are meeting at a time when the rail sector is trying to counter competition on the road and from air.
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