RSS

Railway projects worth over Rs60,000 crore with state participation.

28 Dec

As many as 16 states have responded till now to Railways’ offer of sharing cost of about 40 projects worth over Rs60,000 crore for speed implementation of laying new lines and development of stations among others.

Railways has undertaken the steps to mobilise resources over and above the available budgetary resources to fast track execution of projects.

“Railway minister Suresh Prabhu had written to all states for becoming partners in rail projects. So far, 16 states have come forward to share cost of 43 projects worth Rs62,379 crore,” said a senior railway ministry official, adding “state governments are sharing 25% to 66% cost of the projects.”

The extent of implementation of projects depends upon the response of the state government as some states are also giving land free for the projects. Besides strengthening connectivity by laying new lines and doubling, Railways is focusing on station development programmes for enhancement of passenger amenities.

The aim is to provide better facilities at stations and states like Odisha, Maharashtra and Chhattisgarh are keen on developing stations at world class level in their respective states, he said.

Chhattisgarh, Gujarat, Haryana, Kerala and Odisha governments have signed the joint venture agreement to create state specific joint ventures companies to undertake project development, resource mobilisation and monitoring of mutually identified rail infrastructure projects with equity participation of Railways limited to maximum 50%.

Andhra Pradesh and Maharashtra governments have also agreed to form joint venture companies, the official said.

The joint venture company can form Project Specific Subsidiary Company (Project SPV) which may have equity holding by other stakeholders like banks,

PSUs, ports, mining companies etc. for implementation. Railways has arranged extra budgetary resources from financial institutions for which railway ministry has signed an MoU with LIC for a loan of Rs1,50,000 crore to be received over a period of five years, for funding capacity enhancement projects.

http://www.livemint.com/Politics/hI3edqUQ12ASgj7w58VnaJ/Railway-projects-worth-over-Rs60000-crore-with-state-partic.html

Advertisements
 
Leave a comment

Posted by on December 28, 2016 in Uncategorized

 

Tags:

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: