Question : Rail Vikas Nigam Limited

(a) whether the Rail Vikas Nigam Limited (RVNL) has been made functional and if so, the details thereof along with its structural and financial status;

(b) the projects taken up by the RVNL for implementation during the last three years and the current year and the status of their implementation;

(c) whether the RVNL has achieved the objectives for which it was set up and if so, the details thereof;

(d) whether the performance of the RVNL has been very poor in executing the railway projects during the last three years; and

(e) if so, the details thereof and the reasons therefor along with the corrective steps taken/being taken by the Government in this regard?

MINISTER OF RAILWAYS AND COMMERCE & INDUSTRY
(SHRI PIYUSH GOYAL)

(a) to (e): A Statement is laid on the Table of the House.
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STATEMENT REFERRED TO IN REPLY TO PARTS (a) TO (e) OF STARRED QUESTION NO. 128 BY SHRIMATI SANDHYA RAY AND SHRI REBATI TRIPURA TO BE ANSWERED IN LOK SABHA ON 27.11.2019 REGARDING RAIL VIKAS NIGAM LIMITED


(a): Yes, Sir. Rail Vikas Nigam Limited (RVNL) was incorporated as a Public Sector Undertaking (PSU) on 24.01.2003. The company Board was formulated in March 2005. The Board of Directors comprises Chief Managing Director (CMD), 4 Functional Directors, 2 Part Time Official Directors from Ministry of Railways and 7 other Part Time Non Official Directors.

The authorized share capital of RVNL is `3000 crores with the paid up share capital of `2085.02 crores. 12.16% stake of company has been disinvested through IPO in March/April 2019 and remaining 87.84% share lies with Ministry of Railways.

(b): The detail of projects taken up by RVNL during the last three years and current year (2016-17 to 2018-19 and 2019-20) is appended.

(c): Yes, Sir. RVNL has completed a total of 2932.35 km of doubling, 1783.22 km of gauge conversion, 360.01 km of new lines, 3762.07 km of pure Railway Electrification (RE), 2029.41 km RE as part of New Line (NL)/Gauge Conversion (GC)/Doubling (DL) and 42.0 km of Metropolitan Transport Project (MTP). Thus, as on 31.03.2019, 8879.65 km project length out of a total length of 17066.62 km of 174 sanctioned project assigned to RVNL, have been completed. Total 76 projects have been fully completed.

As far as resource mobilization is concerned, RVNL has set up 6 Special Purpose Vehicles (SPVs) with total investment of `7442.64 crore, out of which, RVNL contribution is only `967.85 crore (13%) and balance amount has been arranged through equity of other stakeholders and debt from financial institutions. Out of these 6 SPVs, three SPV projects are already functional and remaining three are at various stages of progress.

RVNL is also executing 5 projects under Asian Development Bank (ADB) loan of 500 million United States Dollar (USD) in various tranches.

(d) & (e): No, Sir. RVNL has been rated as “Excellent” for last 7 consecutive years by the Department of Public Enterprises (DPE).

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