| Maharashtra government and Indian Railways formed a new joint venture to fast-track rail projects by RailEnquiry Admin on 26 January, 2017 - 01:05 PM | ||
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 RailEnquiry Admin | Maharashtra government and Indian Railways formed a new joint venture to fast-track rail projects on 26 January, 2017 - 01:05 PM | |
Maharashtra government joined hands with Indian Railways to form Maharashtra Railway Infrastructure Development Company Limited. This joint venture will mandate railway projects in Mumbai. As of now most of the rail projects are under Mumbai Urban Transport Project. After formation of this new joined venture, most of the rail projects will be out of purview of MUTP. Officials say that this is a strong move by the government because this year Maharashtra has got Rs 4767 crores of rail projects which is a bump of 206 percent compared to rail projects received by the state in 2009 to 2014. In a statement earlier released on November 30, five states namely – Haryana, Gujarat, Odisha, Chhattisgarh and Kerala have formed a joint venture with railways so that pace of rail projects in the states can be enhanced. Apart from this a total of 16 states have decided to share the cost of projects. | ||