According to SB Nayar, Chairman and Managing Director of IIFCL, the company aims to sign a memorandum of understanding (MoU) with Indian Railways to provide advisory services for the development of rail projects through public private partnership (PPP) schemes, among others.
Indian Railways has plans to raise about Rs57.8 billion (US$906.4 million) to carry out rail PPP projects. There area a pipeline of rail projects that could be developed, it includes investment of about Rs120 billion (US$1.88 billion).
Indian Railways is owned and operated by the government of India through the Ministry of Railways. It is one of the world's largest railway networks comprising 115,000 km of track over a route of 65,436 km and 7,172 stations. In 2014-15, Indian Railways carried 8.397 billion passengers annually and 1050.18 million tons of freight in the year.
IIFCL Projects Limited (IPL) provides varied advisory services from the point of identification and conception of infrastructure project and gauging their feasibility to the point of monitoring and supervision.