PIB News Update: Minister of Railways and Commerce & Industry, Shri Piyush Goyal has informed that In view of the essential requirement of number of new rail infrastructure projects in various States to serve their core sector industries, ports, mines, industrial corridors etc., which cannot be taken up by Ministry of Railways at present at desired pace, State specific Joint Venture (JVs) Companies between the Ministry of Railways and willing State Governments have been incorporated.
The company will undertake project development, resource mobilization and monitoring of mutually identified rail infrastructure projects.
Each of these Companies has been set up as a Joint Venture Company with equity participation of Ministry of Railways (limited up to maximum 50%) and concerned State Government(s).
States of Chhattisgarh, Gujarat, Maharashtra, Kerala, Odisha, Haryana, Jharkhand and Karnataka have incorporated the Joint Venture Companies for execution of mutually identified rail infrastructure projects.