The Ministry of Railways has signed an agreement with the Chhattisgarh government for formation of a joint venture (JV) company for focussed resource mobilisation, implementation and monitoring of critical rail projects. The agreement was signed in the presence of Railway Minister Suresh Prabhu and Chief Minister Raman Singh. Mr. S. C. Jain, Executive Director (Works) signed the agreement on behalf of the Railways
Ministry while Mr. Subodh Kumar Singh, Secretary, Department of Commerce & Industry, Chhattisgarh and Secretary to Chief Minister signed for the State.
Mr Prabhu said the agreement will accelerate the economy of the country, as Chhattisgarh is a state with abundant natural resources. Proper exploration and supply of coal and other minerals would boost the economy.
Mr Raman Singh said that as part of development of railway infrastructure, 760 km of additional lines have been laid in a very short span of time which in itself is a record.
In order to expand the railway network, the Railways Ministry has taken the initiative for formation of JV companies with States. So far, 17 States have consented for formation of such companies and eight have signed MOUs with the Railways.
The JV company will have 51% share from Government of Chhattisgarh and 49% from Ministry of Railways and will work in identifying projects which may be taken up in Chhattisgarh. The company will have its headquarters at Raipur or Naya Raipur.
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