Railways signs MoU with Telangana for formation of JV companies

Railways signs MoU with Telangana for formation of JV companies
12/02/2016 , by , in ALLIED

Indian Railways has signed a Memorandum of Understanding (MoU) with Telangana government for formation of Joint Venture (JV) Companies for Development of Railway Infrastructure in the State. The MoU was signed at presence of Railway Board Chairman A.K. Mital.

On the event of Signing Ceremony, Railway Board Chairman, Member Engineering V. K. Gupta, Member Staff Pradip Kumar, Secretary Railway Board R. K. Verma and other Board Members and Senior Officials were present.

On behalf of the Railway Ministry Ved Prakash Dudeja, Executive Director/Works signed the MoU whereas on behalf of Telangana, Sunil Sharma, Principal Secretary, Department of Transport, Roads & Buildings of Telangana signed the MoU.

Dr. Shashank Goel, Resident Commissioner of Telangana was present among others. The MoU was signed in the backdrop of Railway Minister’s Budget announcement regarding setting up of Joint Ventures with States for focused project development, resource mobilization, land acquisition, project implementation and monitoring of critical rail projects.

Speaking on the occasion, Chairman Railway Board stated that Railways has a big shelf of projects valuing about 3.5 lakh crore.

Last year, Railways had sanctioned additional lines of nine thousand kilometres. There have always been lots of expectations from various States for new railway lines/lands.

Thus, to meet the demands of the States, a Cabinet note was got approved for formation of JV Companies. He stated that 17 States have already consented for formation of JV Companies in their respective States and 5 States have already signed MoUs with Railway Ministry in this regard which are Andhra Pradesh, Kerala, Maharashtra, Chhattisgarh, Odisha.

He stated that today’s MoU will help in putting the execution of railways projects on fast track.

He stated that this will also help to take into account the priorities of the States because these projects will be finalised in consultation with the States as there would be offices from State Governments as well as Railways in the new Company which will be formed.

He stated that this is very welcome step which takes the partnership of State and Centre together to take railway projects on very fast pace.

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