Ministry of Railways signs joint venture agreement with Jharkhand

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A Joint Venture Agreement was signed recently between Ministry of Railways and Government of Jharkhand for developing railway infrastructure in the State.

This Joint Venture agreement for development of Railway Infrastructure will

○    Provide active representation to States in the Planning and Implementation of Railway Infrastructure Projects

Speed up the Development of Railway Projects on state’s priority

Generate more financial resources through participation of State & other stakeholders in the project specific subsidiaries

The government of Jharkhand has initially identified 3 projects viz., Namkum – Kandra, Giridih – Parasnath-Madhuban, Tori – Chatra Rail Line covering a length of 222 km at a cost of Rs 2150 crore for taking up through the proposed JV Company after establishing their viability, bankability and financial closure.

Governments of Kerala, Andhra Pradesh, Karnataka, Maharashtra, Odisha, Haryana, Chhattisgarh and Gujarat have already signed JV agreement with Ministry of Railways.

The present railway network density in Jharkhand is 17.64 km per 100 square km which is the best in India and way above the national average of 2.01 km per 100 square km.

The average outlay to Jharkhand in Railway Budget was Rs 1544.3 crore during 2014-15 to 2016-17 which is an increase of 238% over the average outlay of 457.2 crore during 2009-10 to 2013-14.