Jharkhand CM nod to state-rly JV for key projects

RANCHI: Chief minister Hemant Soren on Wednesday gave his approval for the formation of a joint venture between the state and the Indian Railways for taking up key infrastructure projects in Jharkhand and providing connectivity in remote parts of Jharkhand.
A statement issued by Soren’s office in the evening said he also approved the recommendation of a special committee headed by development commissioner K K Khandelwal, clearing the decks for a 50:50 cost-sharing programme for key projects in public interest as they will play a key role in socio-economic development of the state.
“The committee in its report has suggested key points for connecting districts like Khunti and Simdega with the railway network. The financial provisions for projects which are not financially viable, yet important for critical connectivity and capacity enhancement, will be made from government and private stakeholders and through loans,” the statement read.
The statement said Jharkhand Railway Infrastructure Development Corporation Limited, a joint venture of the state and the railways, will play key role in identify, plan and monitor critical railway projects. “The state and railway share will be pegged at 51:49 and financial burden will be carried on debt equity basis,” it read.
At present, work is underway for several railway projects in Jharkhand. In cumulative, the costs of these projects are pegged a little over Rs 25,000 crore.