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Railways, Maharashtra government to set up Special Purpose Vehicle for railway infrastructure

Economic Times:  September, 2015

In a bid to give boost to Railway infrastructure projects in the state, the Maharashtra government on Wednesday has decided to form the Maharashtra Railway Infrastructure Development Company. The decision was taken after Maharashtra Chief Minister Devendra Fadnavis held a review meeting with Railway officials of various development projects pending in the state.

The Maharashtra government has said that the Company which is a Special Purpose Vehicle (SPV) has been formed to ensure that the various development projects are completed in a time bound manner. Fadnavis would soon be meeting Railway Minister Suresh Prabhu in order to fix the modalities of how Railway officials would be members in this company and how many funds would be allocated by the Railways as well as by the state for the company.

Some of the projects that would be undertaken through this SPV would be the setting up of the Beed-Parli- Baijnath railway line. In Marathwada the state would also use the SPV to clear the decks for the land acquisition for the Wardha- Yavatmal- Nanded line.

Fadnavis also discussed with Railway officials to prepare a plan for building a Metro from the Mumbai Airport to Naina in Navi Mumbai in order to connect to the new Navi Mumbai airport and also asked Railway officials to simultaneously prepare a detailed plan for an elevated line from CST to Panvel.