With the Cabinet approval for a joint venture to be set up jointly by the Railways and the state government in Kerala for executing commercially viable railway projects on a cost-sharing basis, the state has virtually walked away with eight major infra projects. They included the Rapid Rail Transit System (RRTS), rail coach factory at Kanjikode, and the Sabari Rail projects, among others. The Rs.3,330.78-cr RRTS proposed from Thiruvananthapuram to Chengannur with an upgrade of the existing rail network and Sabari railway line, is in fact a major booster to the state. The nod comes in the wake of the clearance given by the Departments of Law and Finance to the shareholders agreement, forwarded initially to the Transport Department by the Railways. The Memorandum of Understanding (MoU) will be inked for undertaking project development, financing, and implementing railway projects in the State on a cost-sharing-basis with 51% equity share with the state and the remaining 49% with the Railways, said official sources.
📅Published on:
08 August 2016
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