Rlys signs MoU with TS govt on Infrastructure development

by

A Memorandum of Understanding (MoU) was signed between Railway Ministry and Telangana government for “Formation of Joint Venture Companies for Development of Railway Infrastructure in Telangana State” in the presence of Railway Board Chairman A.K. Mital on Thursday.
On behalf of the Railway Ministry, Ved Prakash Dudeja, Executive Director/Works and on behalf of Government of Telangana Sunil Sharma, Principal Secretary, Department of Transport, Roads & Buildings, signed the MoU. Dr. Shashank Goel, Resident Commissioner, Govt. 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, Railway Board Chairman said the Railways have a big shelf of projects valued about 3.5 lakh crore. To meet the demands of the States, the Union Cabinet approved formation of JV Companies and 17 States have already consented for formation of JV Companies in their respective States and five States have already signed MoUs with Railway Ministry in this regard which are Andhra Pradesh, Kerala, Maharashtra, Chhattisgarh, Odisha.
He said today’s MoU will help in putting the execution of railways projects on fast track. He said that this would 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. Formation of Joint Venture Companies with the State Governments will go a long way in faster commissioning of critical rail infrastructure projects as it will not only help in mobilization of funds but also in facilitating various clearances and land acquisition. (NSS)