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    Joint Ventures Between Railways, States Get Cabinet Nod - The Economic Times

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    30/12/2015

    JointVenturesbetweenrailways,statesgetCabinetnodTheEconomicTimes

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    Youarehere: ETHome Industry Transportation Railways

    JointVenturesbetweenrailways,statesgetCabinetnod
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    ByPTI|30Dec,2015,02.29PMIST

    NEWDELHI:Eyeinggreaterfinancialroleofstatesinexecutionofrailprojects,Union
    CabinettodayapprovedtheformationofJointVenturecompanieswithseveralstates,which
    willenabletheCentretomobiliseresourcesforvariousrailinfrastructureprojects.
    ChairedbyPrimeMinisterNarendraModi,theCabinetdecidedthattheinitialpaidupcapital
    ofRailwayMinistrywouldbelimitedtoRs50croreforeachstate.
    TheJVsenvisagefinancialparticipationofthestatesaswellasfasterdecisionmaking
    processtoensurespeedyimplementationofrailprojectsinrespectivestates.
    JointVentureCompanieswouldbeformedwithequityparticipationofRailwaysand
    concernedstategovernments,accordingtoarelease.

    JointVentureCompanieswouldbeformedwithequity
    participationofRailwaysandconcernedstategovernments,
    accordingtoarelease.

    Severalrailprojectsaredelayedduetofinancialcrunch.

    Editor'sPick

    EachJointVenturewouldhaveaninitialpaidupCapitalofRs100crorebasedonthe
    quantumofprojectstobeundertaken.Furtherinfusionoffund/equityforthepurposeofthe
    projectswouldbedoneafterapprovaloftheprojectanditsfundingatappropriate
    competentauthority.
    JointVenturecanalsoformprojectspecificspecialpurposevehicleswithequityholdingby
    otherstakeholderslikebanks,ports,publicsectorundertakings,miningcompanies,etc.
    Thiswouldensuregreaterparticipationofstategovernmentsinimplementationofrailway
    projectsbothintermsoffinancialparticipationaswellasdecisionmakingprocessandwill
    alsofacilitatefasterstatutoryapprovalsaswellasspeedylandacquisition.

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    Variouscement,steel,powerplantsetc.wouldgetthenecessaryraillinkfortransportationoftheirrawmaterialandfinishedproducts.
    StayontopofbusinessnewswithTheEconomicTimesApp.DownloaditNow!

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