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News Entry# 287931
  
Dec 07 2016 (22:31)  16 States respond to Rs.60000 Crore cost-sharing for Rail projects (www.railnews.co.in)
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News Entry# 287931     
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Posted by: Yuva Rahul^~  109 news posts
New Delhi: As many as 16 states have responded till now to Railways’ offer of sharing cost of about 40 projects worth over Rs 60,000 crore for speed implementation of laying new lines and development of stations among others.
Railways has undertaken the steps to mobilise resources over and above the available budgetary resources to fast track execution of projects.
“Railway Minister Suresh Prabhu had written to all states for becoming partners in rail projects. So far, 16 states have come forward to share cost of 43 projects worth Rs 62,379 crore,” said
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a senior Railway Ministry official, adding “state governments are sharing 25 per cent to 66 per cent cost of the projects.”
The extent of implementation of projects depends upon the response of the state government as some states are also giving land free for the projects.
Besides strengthening connectivity by laying new lines and doubling, Railways is focusing on station development programmes for enhancement of passenger amenities.
The aim is to provide better facilities at stations and states like Odisha, Maharashtra and Chhattisgarh are keen on developing stations at world class level in their respective states, he said.
Chhattisgarh, Gujarat, Haryana, Kerala and Odisha governments have signed the joint venture agreement to create state specific joint ventures companies to undertake project development, resource mobilisation and monitoring of mutually identified rail infrastructure projects with equity participation of Railways limited to maximum 50 per cent.
Andhra Pradesh and Maharashtra governments have also agreed to form joint venture companies, the official said.
The Joint Venture Company can form Project Specific Subsidiary Company (Project SPV) which may have equity holding by other stakeholders like banks, PSUs, ports and mining companies for implementation.
Railways has arranged extra budgetary resources from financial institutions for which Railway Ministry has signed an MoU with LIC for a loan of 1,50,000 crore to be received over a period of five years, for funding capacity enhancement projects.
Maharashtra to share cost of proposed Kalyan-Murbad-Ahmednagar rail line
Maharashtra Chief Minister Devendra Fadnavis today said his government would share 50 per cent cost of the proposed Kalyan-Murbad-Ahmednagar rail link.
Referring to the demand by earlier speakers relating to the long pending issue of the rail connectivity to Murbad, Fadnavis said he would meet Railway Minister Suresh Prabhu in this regard.
“Let the cost be anything, the state government would share 50 per cent of the burden,” he declared.
The Chief Minister also said Prabhu and Union Transport Minister Nitin Gadkari, who were from Maharashtra had a soft corner for the state and they always had a positive approach towards the needs of the state.
He speaking at an event at Murbad in the district.
Fadnavis also inaugurated the new administrative building of the Murbad tehasil office.
Fadnavis appealed to people to support the Prime Minister on demonetisation.
“This is like world war and its benefits can be reaped for the next 50 years,” he added.
He also said the collection in the banks by way of deposit of demonetised currency notes would go to the ‘Garib Kalyan Kosh’ to be utilised for the public welfare.
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