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Blog Entry# 4346219
Posted: Jun 18 2019 (15:53)

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Jun 18 2019 (15:53)   Haryana Orbital Rail corridor project to come up from Palwal to Sonipat in SPV mode

12649⭐️ KSK ⭐️12650^~   3961 news posts
Entry# 4346219   News Entry# 384524         Tags   Past Edits
CHANDIGARH: Haryana Rail Infrastructure Development Corporation Ltd (HRIDC) is a Joint Venture Company mandated to undertake project development, mobilization of financial resources and implement project primarily in the State of Haryana. It is also authorized to form project specific subsidiary companies (Project SPVs) for implementation of sanctioned projects. It is a 51:49 Joint Venture by the State Government of Haryana and Ministry of Railways under the provisions of Section 2(45) of Company’s Act 2013.
The Government of India launched the Scheme of participative execution of rail infrastructure project through State Specific Join Ventures in 2016 with the objective of meeting aspirations of States for expansion of railway network by identifying bankable railway project. Haryana Rail Infrastructure Development Corporation Ltd (HRIDC), an umbrella Joint Venture
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Company of Ministry of Railways and Govt. of Haryana (JVC) was accordingly floated to:
It is largely a non-budgetary initiative requiring mobilization of resources from the market and private sector participation both through equity and debt route. HRIDC has conceived a number of new Railway Line Construction projects through SPV Structure which are prima-facie bankable.
HRIDCL had recently floated a tender calling expression of interest from the industry for equity participation in project specific SPVs for implementation of the 130 km double line from Palwal to Sonipat under the Northern Railway jurisdiction which is expected to cost Rs.1200 Crore. The project will provide direct connectivity (by-passing Delhi) by linking Asaoti (on Delhi-Mathura route) – Patli (on Delhi-Rewari route) – Asaudha (on Delhi-Rohtak route) – Harsana Kalan (on Delhi-Ambala route) by new Broad Gauge railway line and also with DFC network at Pirthala.
M/s AARVEE Associates had been selected as the Consultant for the project who will advise HRIDCL about the project frame work, eligibility criteria and how to apply for equity participation, invite responses from participants by giving fair, equitable and transparent opportunity so that HRIDCL can select equity partners in project specific SPVs.
Also, a new rail corridor will be parallel to the KMP (Kundli-Manesar-Palwal) Expressway, to ease traffic between Haryana and Delhi.

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