The Union Railways Minister laid the foundation stone of coach care complex in Hisar today. (Press Trust of India)
Railway Minister Suresh Prabhu today said massive investment was required for development of railways in the first five years.
The minister also advocated for skill development as a tool to eradicate poverty from the country.
"For the development of railways, we need massive investment in the first five years," Mr Prabu said in Hisar.
A sum of Rs 8.5 lakh crore is needed for the development of railways which will be collected from World Bank and LIC institutions, he said.
Railways today got Rs 2,000 crore from Life Insurance Corporation (LIC), the first tranche of its financial assistance for investment in 50 projects involving construction of new lines and electrification of routes as part of its capacity augmentation programme.
"Skill development is the need of the hour as it will help in removing poverty from the country," Mr Prabhu said while addressing a function at Agroha Dham organised by Aggrawal community.
"We all need to work towards the development of our country," he said.
The Railway minister laid the foundation stone of coach care complex in Hisar today.
Constructed over an area of about five acres, it will cost about Rs 8 crore and will be completed within two years.
A washing line length of 24 coaches will be constructed in the complex. A sick line/shed will also be constructed for the maintenance of trains in the complex and a depot will be set up for equipment and spare parts for day-to-day work. Mr Prabhu said the complex will accelerate the development in the state.