Now Available Railways in India 2021 Sector Analysis, Impact of Covid-19, Market Opportunities and Outlook Research Report Data-set (Excel) 52 Weekly Newsletters 11 Monthly Updates India Infrastructure Research has recently released the latest edition of the Railways in India report 2021. The report covers: Analysis of the market trends, key developments and outlook for the railway sector in India A realistic assessment of the short-term, medium-term and long-term impact of Covid-19 on railway sector projects and investments Operational and financial performance of the Indian Railways Analysis of the current size and growth prospects for key segments - Rolling Stock, Tracks, S&T, Bridges, Tunnels, etc. Recent government initiatives to expand the railway infrastructure Update on big-ticket projects Upcoming investment opportunities for the stakeholders across various segments Investment requirements for the next five years Railways in India 2021 Table of Contents Report Summary and Key Insights The railway sector has been on a high growth trajectory since the past few years. While the pace of infrastructure creation has been at an all-time high, new and innovative ways to improve operational efficiency and passenger experience are also being focused upon. From introduction of high speed trains to modernisation of railway stations, the sector has been abuzz with activity. IR has been taking various initiatives to upgrade its rolling stock and improve the passenger experience. IR is also taking initiatives to increase the average speed of trains. Currently, all LHB coaches can run at a maximum speed of 130 kmph. Some of the initiatives by IR in this area include introduction of Vande Bharat Trains, Tejas Express Trains, Anubhuti Coaches, Double Decker Train Coaches and Humsafar Trains. IR has also increased its focus on digitalisation of operations to improve efficiency and enhance passenger convenience. The initiatives include installation of point of sale (POS) machines and acceptance of UPI/Bharat interface for money, launching Rail Madad app for providing assistance and information to passengers, and establishing an online dashboard, e-Drishti to review, monitor and analyse IR's performance. IR has also been exploring new funding and revenue sources. These include FDI equity inflows, multi-lateral funding, issuing IPOs and non-fare revenue initiatives. The Ministry of Railways is looking at use of PPPs to unleash faster development and completion of tracks, rolling-stock manufacturing and delivery of passenger and freight services. The national transporter has also identified the potential areas for private sector participation in the sector. Big-ticket plans: IR plans to move to 100% electrification in next 3.5 years and become 100% net zero' operator in next 9-10 years; the Western Dedicated Freight Corridor and Eastern Dedicated Freight Corridor are expected to be completed by June 2022; IR has planned to source around 1,000-MW solar power and 200 MW of wind power by 2021-22 across zonal railways and production units; the Mumbai-Ahmedabad High Speed Rail corridor is expected to be completed by December 2023; the priority section of the Delhi-Meerut RRTS Corridor (Sahibabad to Duhai) is scheduled to be completed by March 2023; six projects under Mumbai Urban Transport Projects (MUTP) 3 to be completed by 2022; 12 projects under MUTP 3A to be completed by 2024; and four corridors of the project are expected to become operational by 2026. In terms of network expansion, IR registered a four times increase in commissioning of doubling works during the 2014-20 period (1,458 km/year) as compared to the 2009-2014 period (375 km/year). The outbreak of Covid-19 pandemic has had a significant impact on the railway sector. IR, which operated over 13,500 trains daily carrying around 23 million passengers, halted all its passenger services on March 22, 2020 to control the spread of Covid-19. However, the sector has responded to the pandemic by turning to the freight segment to combat the losses incurred in the passenger segment and reducing wasteful expenditure through measures such as rationalisation of manpower at workshops, closure of uneconomic rail lines and greater emphasis on digitalisation. India Infrastructure Research has analysed a total of 262 projects for the analysis of upcoming projects. These projects entail an investment of Rs 5.12 trillion and are expected to create a capacity of over 21,000 km. As per National Infrastructure Pipeline, investments worth Rs 13.67 trillion are to be made in the railways sector during the period from 2019-20 to 2024-25 to improve freight efficiency, augment the speed of trains, improve passenger amenities, enhancing safety and ensuring better connectivity. Going forward, the outlook of the sector remains positive on the back of the big-ticket projects being implemented. Further, IR's Make in India initiatives are also likely to gain further traction with government's focus on self-reliance. Release Date: December 23, 2020 | No. of slides: 569 Railways in India 2021 Project Pipeline in terms of No. of Projects and Investment in Railway Sector (includes planned, proposed, announced and under bidding projects) Source: India Infrastructure Research Project Analysis by Region Note: 20 stalled projects involving an investment of about Rs 267 billion (1,600 km) have been excluded from the analysis. Besides, 136 inter-state project worth Rs 8.38 trillion (39,517 km) has also been excluded from the region-wise analysis. Source: India Infrastructure Research Railways in India 2021 Table of Contents Key Takeaways and the Road Ahead Analysis by Segment (Rolling Stock, Tracks, S&T, Bridges, etc.) Analysis by Stage of Development SECTION I: SECTOR ANALYSIS, COVID-119 IMPACT ASSESSMENT, OUTLOOK AND Analysis by Ownership PROJECTIONS Analysis by Region Analysis by State 1. Trends, Developments and Outlook Analysis by Completion Period Network Size and Growth Analysis of Upcoming Projects Project Awards and Completion Top 50 Upcoming Projects in terms of Investment Emerging Trends Upcoming Contracts and Tenders IR Restructuring: Key Announcements & Expected Impact Government Initiatives in the Light of Covid-19 4. Future Outlook and Market Opportunities Investment Requirements and Targets under NIP Growth Drivers Risks and Challenges Expected Network Addition in 2020-21 New Opportunities and Targets Passenger Traffic Projections (till 2025-26) Future Outlook Freight Traffic Projections (till 2025-26) Mega/Big Ticket Projects under Construction 2. Impact of COVID-119 on Traffic, Projects and Investments Investment Requirements (Medium-term and Long-term) Impact on Traffic and Earnings Market Opportunities Progress made by Projects Since April 2020 Strategies and Solutions for the Post-Covid Scenario - Projects that Have Resumed Construction Work Post-Covid Sector Outlook - Projects Awarded - Projects Facing Funding Delays SECTION II: OPERATIONAL AND FINANCIAL PERFORMANCE: TRENDS, IMPACT OF - Project that Have Progressed During the Lockdown COVID-119 AND FUTURE OUTLOOK - Bid Postponements - Under Bidding Projects 5. IR's Financial Performance and New Funding Strategies Impact on Supply Chain Growth Trends (2015-16 to 2019-20) - Labour Availability - Capital Expenditure - Raw Material and Input Costs - Operating Ratio - Equipment Availability Impact of Covid-19 on IR's Revenue & Expenditure in 2020-21 - Invocation of Force Majeure and Contract Renegotiation Cost Trends Overall Impact on Capacity Addition Revenue Trends Impact on Key Sector Segments Revenue Surplus Impact on Investments Recovery Trend & Revival Strategies - Government Funding New Funding/Revenue Sources - Capex Plans of Key Companies Potential for PPPs Relief Measures & Recovery Strategies Issues and Challenges Post-Covid Outlook 6. Freight Traffic and Earnings 3. Project Pipeline Analysis: Re-aassessment Of Opportunities in Light of Covid-119 Key Trends (2015-16 to 2019-20) (Till 2025-226) - Freight Traffic Trends Realistic Assessment of Project Pipeline - Freight Earning Trends - Short Term Impact of Covid-19 on Monthly Traffic & Earnings in 2020-21 - Medium Term Initiatives for Improving Freight Traffic - Long Term Segment Outlook and Projections Release Date: December 23, 2020 | No. of slides: 569 Railways in India 2021 7. Commodity-wwise Analysis 10. Key Efficiency Indicators Commodity-wise Trends in Freight Traffic and Earnings (2015-16 to 2019-20) Efficiency Indicators for Freight Operations - Coal - NTKM Per Wagon Per Day - RMSP - Wagon Km Per Wagon Per Day - Cement - Freight Train Engine Km - Foodgrains - Average Net Load of Freight Trains - Steel - Wagon Turn Around Time - Iron Ore - Average Load Per Wagon - Fertilisers - Ineffective Percentage of Rolling Stock - Mineral Oil Passenger Km Per Route Km - Container service Line Capacity and Utilisation - Balance goods Staff Utilisation Indicators Impact of Covid-19 on Performance of Commodities in 2020-21 Key Initiatives in light of Covid-19 Future Projections and Outlook SECTION III: FOCUS ON MEGA PROJECTS: PROGRESS SO FAR, COVID-119 IMPACT, 8. Passenger Traffic and Earnings REVISED TIMELINES AND UPCOMING OPPORTUNITIES Key Trends (2015-16 to 2019-20) - Passenger Traffic Trends 11. Dedicated Freight Corridors - Passenger Earning Trends Project Scope & Features Impact of Covid-19 on Monthly Traffic & Earnings in 2020-21 Progress So Far & Key Milestones Suburban and Non-Suburban Traffic and Earnings