JV signed between Odisha government and ministry of railways

Q.  Ministry of Railways signed JV with which Government on 14th June 2016?
- Published on 15 Jun 16

a. Odisha
b. Central
c. Rajasthan
d. None of the above

ANSWER: Odisha
 
Ministry of Railways signed a Joint Venture Agreement with Govt. of Odisha on 14 June 2016.The company shall identify projects to be developed and find avenues for financing of the same. Ministry of Railways and Govt. of Odisha shall be essentially funding part of such identified projects. Project specific SPVs shall be formed after financial closure of the project.
  • 17 State Governments consented for formation of Joint Venture Companies in collaboration with the Ministry of Railways for development of rail infrastructure in their respective States.
  • Draft MoUs were sent to these State Governments and discussions were also held with them to clarify various provisions of the MoU.
  • MoUs have already been signed by the Ministry of Railways with seven State Governments viz. Odisha, Maharashtra, Chhattisgarh, Andhra Pradesh, Telangana, Kerala and Haryana.
  • Around 9 States, the other States who have consented/ shown keenness for formation of State JVs are Punjab, Bihar, West Bengal, Madhya Pradesh, Rajasthan, Tamil Nadu and Uttar Pradesh.
  • Karnataka is already having a Joint Venture (by the name K-RIDE) with Ministry of Railways.

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