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Ministry of Railways Signed JV Agreement with Government of Odisha

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Ministry of Railways signed a Joint Venture Agreement with Government of Odisha for improving Railway Infrastructure in the State

Chief Guest: A K Mittal, Member Engineering, Railway Board

Delegates: train

  • P Dudeja, ED/Works on behalf of Ministry of Railways
  • Sanjay Rastogi, Principal Secretary/ Transport, Govt. of Odisha

Role of Joint Venture Company:

  • Identification of Projects needs to be developed
  • Find places for financing
  • Ministry of Railways and Govt. Of Odisha shall be funding such identified projects
  • Special purpose vehicles shall be formed


  • Formation of Joint Ventures with States for Project Development and implementation, Resource mobilisation and monitoring of critical rail projects to build up railway lines in various states
  • Karnataka is already having a Joint Venture by the name K-RIDE with Ministry of Railways.
  • 17 State Governments accorded for formation of Joint ventures Companies to develop rail infrastructure in their states.
  • Draft Memorandum of Understanding were sent to these states
  • Seven States such as Odisha, Maharashtra, Chhattisgarh, Andhra Pradesh, Telegana, Kerala and Haryana have already signed the MoU’s with Ministry of Railway
  • Two States Jharkhand and Gujarat are interested to sign the MoU
  • Eight States Punjab, Bihar, West Bengal, Madhya Pradesh, Rajasthan, Tamil Nadu and Uttar Pradesh shown interested for formation of Joint Venture companies.

Features of Memorandum of Understanding:

  • Percentage of Stake
  • State Government – 51%
  • Ministry of Railways – 49%
  • Fully owned by the Government
  • Ownership of the land shall vest with the SPVs
  • National integration by connecting the Rural and bringing people closer to each other