Rail modeling and simulation is an effective decision support instrument to plan and design complex rail infrastructures and operations. To successfully support these activities on a large scale, the simulation model should be detailed enough and yet be computationally efficient. This poses a set of challenges pertaining to the design of the models. In this paper, we propose a component based light-rail modeling and simulation library in the DEVS formalism. The proposed library is described in detail and is shown to be efficient and scalable. We conclude the paper by offering a set of good design principles derived from this experience, which are also relevant to other large scale infrastructure system simulation model design.