Friday, January 12, 2007

Railways all set to make deals with retailers

The Economic Times reports that the Indian railways will soon be forming a deal with retailing majors such as Reliance, Future Group, Bharti and Tatas. A senior official at Rail Bhawan said that the draft would be ready in a fortnight. Retailers have been conducting talks with the Railways for setting up agri-retail hubs, cold storage hubs and multi-purpose warehouses on the railways excess land. At present the railways are not interested in the real estate business but will likely tie up with retailers and real estate developers to set up retail hubs across the country, using its land as equity.

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