Railways' plan to lease out land hangs fire by nikhilndls on 23 July, 2012 - 09:20 AM | ||
---|---|---|
nikhilndls | Railways' plan to lease out land hangs fire on 23 July, 2012 - 09:20 AM | |
PATNA: An ambitious project of the railways to lease out its vacant land to private firms to build agri-retail infrastructure across the country has been hanging fire. Bihar, an important centre of agricultural production, has been in the ambit of proposed agri-retail infrastructure development plan of the railways. However, delay in executing the project has disappointed businessmen and traders in Bihar.According to a Railway Board official, railways has already worked out details to lease out about 4,300 hectares to retailers and logistics companies for building agri-retail infrastructure. This decision was taken to give a boost to agricultural production in the country as well as to augment railways' revenue, he said.The official said under the plan, the vacant railway land would be given to interested firms on lease for a period of up to 10 to 15 years. Railways may renew the lease depending on performance and revenue earning viability for railways, he said, adding railways has about 4.23 lakh hectare of surplus land across the country.According to sources, railways had held discussions with reputed firms of the country interested in this plan. These firms had shown their inclination to invest in vacant railway land and set up agri-retail outlets to cater to the needs of farmers, sources said, adding railways is yet to execute this plan, particularly in Bihar. |