Railways to form SPVs with 17 states for infrastructure development

Both the states and the centre will invest in the SPV that will be used for development of railway infrastructure

Panaji: Railway Minister Suresh Prabhu on Saturday said his ministry will form special purpose vehicles (SPVs) with 17 states to develop railway infrastructure.

“We are creating a special purpose vehicle with each state separately. There are 17 states, who have shown interest. It would be a joint venture," Prabhu said on the sidelines of the function to flag off local train at Pernem station in north Goa. He said Goa, north-eastern states and Jammu and Kashmir are not included in this scheme.

“For the 17 states, we will create SPVs. The state will invest the capital, along with the centre, in this company (SPV), which will be used for development of railway infrastructure," the minister said. According to Prabhu, Maharashtra has decided to invest 10,000 crore for next five years in this company. “Now all the states are interested in signing. This is a good thing. We can develop additional infrastructure and also additional bandwidth," he said.

He also announced 250 additional trains to clear the rush during forthcoming Ganesh Chaturthi festival, which would be celebrated across Maharashtra’s Konkan region and Goa in September. “Ganesh chaturthi is the most important festival in Goa. We have decided to run 250 additional trains to clear the rush," Prabhu told a gathering at Pernem Railway Station today, where he flagged off the train between Pernem and Karwar. PTI

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