Govt may open stadiums and Railways' heritage routes for private sector investment: Report

The government may allow private players to invest in stadiums and Indian Railways' heritage routes, Business Standard reports.

The move will help the government move closer to its divestment target of Rs 1.05 lakh crore for the current fiscal.

Around six stadiums have already been identified, including the Jawaharlal Nehru Stadium and Karnail Singh Stadium in Delhi, the report said.

The stadiums could either let real estate players use the stadiums commercially, or they can be sold completely, the report said. The NITI Aayog has recommended the idea of monetising the stadiums.

Moneycontrol could not independently verify the story.

“On average, an investment of Rs 1,000 crore is expected from private players in each of these stadia,” a source told Business Standard.

Two meetings have taken place between representatives of NITI Aayog, Department of Investment and Public Asset Management (DIPAM), and various ministries, sources told the paper.

The Ministry of Youth Affairs Ministry and Sports and Ministry of Railways are involved in the discussions, the report said.

The Sports Ministry has some doubts about monetisation of stadiums, while DIPAM supports the idea as long as the administrative ministries agree to it.

One option involves releasing the stadiums for commercial purposes but on the condition that sports infrastructure is simultaneously developed, an official told the paper.

The Railways currently spends around Rs 250-300 crore a year to manage its heritage assets, the report said.

The heritage routes include The Darjeeling Himalayan Railway, the Nilgiri Mountain Railway and the Kalka Shimla Railway.

Original Source: https://www.moneycontrol.com/news/india/govt-may-open-stadiums-and-railways-heritage-routes-for-private-sector-investment-report-4183951.html