Question : Joint Venture Agreements

(a) whether with a view to ensure greater participation of States, Union Government allowed the Indian Railways to form Joint Venture companies with State Governments to mobilize resources for speedy implementation of rail projects;


(b) if so, the details thereof;

(c) the manner in which these joint venture companies will work and areas identified for joint venturing with the States;


(d) the extent to which the Railways will be able to mobilize funds for their projects with these agreements; and

(e) the States which have signed the joint venture agreements with the Railways including the areas of agreements?

MINISTER OF RAILWAYS AND COMMERCE & INDUSTRY

(SHRI PIYUSH GOYAL)

(a) Yes, Sir. In view of the essential requirement of number of new rail infrastructure projects in various States to serve their
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core sector industries, ports, mines, industrial corridors etc., which cannot be taken up by Ministry of Railways at present at desired pace, State specific Joint Venture (JVs) Companies between the Ministry of Railways and willing State Governments have been incorporated.
(b) States of Chhattisgarh, Gujarat, Maharashtra, Kerala, Odisha, Haryana, Jharkhand and Karnataka have incorporated the Joint Venture Companies.
(c) The company will undertake project development, resource mobilization and monitoring of mutually identified rail infrastructure projects.
(d) Each of these Companies has been set up as a Joint Venture Company with equity participation of Ministry of Railways (limited up to maximum 50%) and concerned State Government(s).
(e) States of Chhattisgarh, Gujarat, Maharashtra, Kerala, Odisha, Haryana, Jharkhand and Karnataka have incorporated the Joint Venture Companies for execution of mutually identified rail infrastructure projects.

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