In a bid to strengthen the rail network in Haryana, the State Government would enter into a partnership with Ministry of Railways by forming Special Purpose Vehicle to raise funds. A Memorandum of Understanding (MoU) in this regard will soon be signed between both the stakeholders. The rail projects which would be taken up for speedy implementation as the part of MoU include Karnal-Yamuna Nagar railway line, Fatehabad-Mansa-Bhatinda railway line, Jakhal-Ratia-Fatehabad railway line, Bhiwani-loharu-Pilani-Churu railway line, Rewari-Palwal via Bhiwari railway line, Yamuna Nagar-Chandigarh railway line, Delhi-Sohna-Nuh-Ferozpur-Jhirka-Alwar railway line and Hisar-Sirsa via Agroha Fatehabad railway line.
Both Haryana Government and Railway Ministry will form, establish and get registered a company with limited liability. The name of the proposed joint venture company will be ‘Rail Infrastructure Development Company (Haryana) limited’ to be called as ‘H-RIDE’. The main objectives of H-RIDE will be to expedite project development and implementation by resorting to resource mobilization, securing traffic guarantees and involvement of strategic partners in project funding and implementation. Besides, it will initiate mobilization of revenues from the state government by other non rail operation sources and coordinate with organizations or local bodies for the purposeful resolution of various ancillary matters connected with the project development.
A spokesperson said, “As per the MOU, the Railway Ministry ill complete the construction of projects in a time bound manner and to the schedule mutually fixed by both the stakeholders.” Also, it will supplement the resources raised by H-RIDE, to a maximum extent of 25 percent of the balance project cost, subject to allocation made in railway budget. The Railway Ministry will share the net surplus realised equally with H-RIDE for a period of 30 years from the date of commission of the project.