Railways Proposes to Set up Joint Ventures with states and Major Public Sector Companies

The Union Railway Minister Shri Suresh Prabhakar Prabhu has announced the proposal to set up joint ventures with States for focused project development, resource mobilization, land acquisition, project implementation and monitoring of critical rail projects. Introducing the Railway Budget for 2015-16 in Parliament today, he informed the members that most of them have conveyed their acceptance to this proposal. The expansion of railway network to remote and backward areas serves as an engine for growth and brings overall socio economic development in the region.

The Railway Minister has also announced the proposal to set up Joint Ventures (JVs) with major public sector companies who are Railways customers for meeting their requirements of new lines. Such focused execution of works will ensure faster completion and ultimately provide the much needed path for them to transport their produce and at the same time generate revenues for Railways.