The Indian Railways formed a joint venture company (JVC) with the Haryana government for undertaking rail infrastructure projects in the state. This is a “great step” towards the quick execution of rail projects, Railways Minister Suresh Prabhu said after the formation of the JVC.
With the formation of the joint venture, many projects such as the expansion of the rail network and modernisation of stations in the state will be taken up in a focussed manner, said a Railway Ministry official.
Projects for laying new tracks, doubling lines and gauge conversion needed around Rs 3500 billion (47 bn euros). “This has necessitated partnering with states for resource mobilisation,” he added.
Haryana becomes the second state, after Odisha, to form a joint venture company with the railway company. Earlier, both states had signed memorandums of understanding for this purpose.
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