Railways form JV with Chhattisgarh govt for rail projects

The railways today joined hands with the Chhattisgarh government in forming a joint venture company for faster execution of rail projects in the state.
Describing the occasion as "significant", Railway Minister Suresh Prabhu said, "Today's agreement with the Chhattisgarh government will accelerate the economy of the country as it is a state with abundant natural resources."
The expansion of the rail network in Chhattisgarh will help faster goods movement, including coal transportation for power plants.
Prabhu said proper exploration and supply of coal and other excavation items can boost the country's economy.
To expand railway network across the country, the railways has taken initiative for formation of JV companies with states.

While 17 states have consented for formation of such companies and eight states have signed MOUs with the ministry this regard, Chhattisgarh has become the third state to sign JV agreement after Odisha and Haryana.

Prabhu said to meet the demands of the people, it is better that all state governments join hands with the Railway Ministry and become partners with it.
Signing of such agreements is in line with the Prime Minister's philosophy of cooperative federalism, he added.
Chhattisgarh Chief Minister Raman Singh, who was present on the occasion, thanked the railways for supporting the state for development of rail infrastructure.

Singh said 760 kms of additional railway lines have been spread in the state in a very short span of time which in itself is a record.
The improved railway network has helped the state in processing the natural resources in its full potential, he said.
Minister of State for Power and Coal Piyush Goyal said the formation of JV company in Chhattisgarh will help in improving the congested rail lines.
Due to the effort of the railways, coal is available in all the power plants of the country and that too with surplus stock, Goyal said and added that signing of the agreement is "a very forward looking and visionary step".

The JV company will have 51 per cent share from Chhattisgarh government and 49 per cent from the Ministry of Railways and will work in identifying projects which may be taken up in the state.
The company will have its headquarter at Raipur or Naya Raipur.