Railways signs JV agreement with Haryana

Q.  Railways has signed a JV agreement with which state to expand the rail network here at a faster pace on 16th July, 2016?
- Published on 18 Jul 16

a. Haryana
b. Punjab
c. Uttar Pradesh
d. West Bengal

ANSWER: Haryana
 
Railways has signed a joint venture agreement with Haryana for expanding rail network in the state at a more rapid pace.
  • National transporter has taken initiative for formation of joint ventures with states to expedite implementation of rail projects.
  • JV companies will now be responsible for identifying projects, land acquisition and possible financing along with government funding and monitoring.
  • Each joint venture will have an initial paid up capital of INR 100 crores in association with the quantum of projects to be initiated.
  • Railways initial paid up capital will be limited to INR 50 crore for every date.
  • Further infusion of the fund or equity for the purpose of projects should be done following the approval of the project as well as its funding at the level of relevant competent authority.
  • 17 states have consented for the formation of such companies and 8 of these have signed MoUs with railways

Related Content

➨ Post your comment / Share knowledge


Enter the code shown above:

(Note: If you cannot read the numbers in the above image, reload the page to generate a new one.)
▲