Norms may be eased for wagon leasing firms

Wagon leasing policy to be finalised in a few months.

The proposed wagon leasing policy of the railways may allow leasing companies to purchase rakes from manufacturer of their choice, be it from the domestic or international market.

The only condition that may be set is that the rakes have to meet the standard technical specifications notified by the railways.

The wagon leasing policy is expected to be finalised within a few months.

The companies may also be allowed to lease out wagons to private container train service operators. Fourteen companies were recently awarded licences to operate container trains by the railways.

Companies allowed to lease out wagons to private container players will be expected to pay a maintenance fee to the railways for upkeep of the rakes.

Rail Bhavan planners are also considering charging a fee for wagons owned by leasing companies that are lying idle and using up railway infrastructure.

The railways do not plan to set any kind of restriction on companies that may want to enter the leasing market. "Any company which has sufficient funds to invest in the market is welcome," said an official.

The railways have 2,22,379 wagons. Opening up of the container transportation sector to private players is expected to add more wagons and increase capacity.