Cabinet approves formation of JV companies between Indian Railways, state governments

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"Formation of JV companies between Indian Railways, state governments"


[/vc_column_text][vc_column_text]The Cabinet has approved formation of Joint Venture (JV) Companies between Indian Railways and State Governments to mobilize resources for undertaking various rail infrastructure projects in States.

The JVs would be formed with equity participation of Ministry of Railways and state governments concerned. Each JV would have an initial paid up capital of Rs 100 crores based on the quantum of projects to be undertaken. The Ministry of Railways' initial paid-up capital will be limited to Rs 50 crore for each State.

The railway spokesperson said that further infusion of fund/equity would be done after approval of the project and its funding at the level of appropriate competent authority.

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The exercise would ensure greater participation of State Governments in implementation of Railway projects both, in terms of financial participation as well as decision making process.

This will also facilitate in faster statutory approvals and land acquisition. Besides travelling people, various cement, steel, power plants etc. would get the necessary rail link for transportation of their raw material and finished products.

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