New Delhi: Railway ninister Lalu Prasad Yadav today ruled out indiscriminate privatisation of Indian Railways (IR), but was not opposed to public-private partnerships to run the railways. Yadav was addressing an infrastructure conference in New Delhi.

Announcing an investment of over Rs300,000 crore in the next five years for modernisation programme in the Railways, he said, he opposed the idea of indiscriminate privatisation of the railways. "Under my leadership, railway would not be handed over to private players," Yadav asserted, adding, "but this does not mean that I am against PPP."

Yadav said that core activities like running trains should remain with IR, while private players be invited to join non-core activities.

Also attending the conference finance minister Chidambaram endorsed his cabinet colleague's views on IR retaining and operational control over core activities. "I endorse the Railway Minister's view that core activities in crucial infrastructure area like Railway could remain with the public sector," he said, while suggesting that private sector could be roped in for allied activities.

Buoyed by spectacular turnaround of Rs20,000 crore cash surplus by end of this fiscal, Yadav announced that a comprehensive scheme involving investment of Rs300,000 crore in the next five years was being planned. Of this 40 per cent was expected to come from public-private partnership.

Private players are expected to be involved in running container trains, construction of dedicated freight corridor, modernisation of railway stations and establishment logistic parks and warehouses.