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Joint Venture Projects of Indian Railways

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Joint Venture Projects of Indian

So far, 5 State Governments namely Chattisgarh, Gujarat, Haryana, Kerala and Odisha have signed the Joint Venture agreement to create State specific joint ventures companies to undertake project development, resource mobilization and monitoring of mutually identified rail infrastructure project(s) with equity participation of Ministry of limited to maximum 50%. State Governments of Andhra Pradesh and Maharashtra have also agreed to form joint venture companies. The Joint Venture Company can form Project Specific Subsidiary Company (Project SPV) which may have equity holding by other stakeholders like Banks, PSUs, Ports, Mining Companies etc. for its implementation. (c): Indian has taken steps to mobilize resources over and above the available Budgetary Resources to fasttrack execution of projects. Ministry of has arranged Extra Budgetary Resources from Financial Institutions including Life Insurance Corporation of India for which Ministry of 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. In addition, Ministry of has approached State Governments to either share the cost of the projects or take up the projects through joint venture to be formed with the respective State Government. The extent of implementation of projects depends upon the response of the State Government. So far, 16 States have come forward to share cost of 43 projects. The total cost of these 43 projects is 62,379 crore. State Governments are sharing 25% to 66% cost of the project. In addition, some of the State Governments are also giving land free.

This Press Release is based on the information given by the Minister of State for Shri Rajen Gohain in a written reply to a question in Lok Sabha on 30.11.2016 (Wednesday).

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Joint Venture Projects of Indian Railways

Joint Venture Projects of Indian Railways
Joint Venture Projects of Indian

So far, 5 State Governments namely Chattisgarh, Gujarat, Haryana, Kerala and Odisha have signed the Joint Venture agreement to create State specific joint ventures companies to undertake project development, resource mobilization and monitoring of mutually identified rail infrastructure project(s) with equity participation of Ministry of limited to maximum 50%. State Governments of Andhra Pradesh and Maharashtra have also agreed to form joint venture companies. The Joint Venture Company can form Project Specific Subsidiary Company (Project SPV) which may have equity holding by other stakeholders like Banks, PSUs, Ports, Mining Companies etc. for its implementation. (c): Indian has taken steps to mobilize resources over and above the available Budgetary Resources to fasttrack execution of projects. Ministry of has arranged Extra Budgetary Resources from Financial Institutions including Life Insurance Corporation of India for which Ministry of 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. In addition, Ministry of has approached State Governments to either share the cost of the projects or take up the projects through joint venture to be formed with the respective State Government. The extent of implementation of projects depends upon the response of the State Government. So far, 16 States have come forward to share cost of 43 projects. The total cost of these 43 projects is 62,379 crore. State Governments are sharing 25% to 66% cost of the project. In addition, some of the State Governments are also giving land free.

This Press Release is based on the information given by the Minister of State for Shri Rajen Gohain in a written reply to a question in Lok Sabha on 30.11.2016 (Wednesday).

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Joint Venture Projects of Indian Railways

Joint Venture Projects of Indian

So far, 5 State Governments namely Chattisgarh, Gujarat, Haryana, Kerala and Odisha have signed the Joint Venture agreement to create State specific joint ventures companies to undertake project development, resource mobilization and monitoring of mutually identified rail infrastructure project(s) with equity participation of Ministry of limited to maximum 50%. State Governments of Andhra Pradesh and Maharashtra have also agreed to form joint venture companies. The Joint Venture Company can form Project Specific Subsidiary Company (Project SPV) which may have equity holding by other stakeholders like Banks, PSUs, Ports, Mining Companies etc. for its implementation. (c): Indian has taken steps to mobilize resources over and above the available Budgetary Resources to fasttrack execution of projects. Ministry of has arranged Extra Budgetary Resources from Financial Institutions including Life Insurance Corporation of India for which Ministry of 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. In addition, Ministry of has approached State Governments to either share the cost of the projects or take up the projects through joint venture to be formed with the respective State Government. The extent of implementation of projects depends upon the response of the State Government. So far, 16 States have come forward to share cost of 43 projects. The total cost of these 43 projects is 62,379 crore. State Governments are sharing 25% to 66% cost of the project. In addition, some of the State Governments are also giving land free.

This Press Release is based on the information given by the Minister of State for Shri Rajen Gohain in a written reply to a question in Lok Sabha on 30.11.2016 (Wednesday).

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

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