A memorandum of understanding (MoU) was signed between the Railways and the Odisha Government in New Delhi on Wednesday to form an SPV (special purpose vehicle) for implementation of railway projects in Odisha.
The MoU was signed in the presence of Railways Minister Suresh Prabhakar Prabhu, Tribal Affairs Minister Jual Oram, Minister of State for Railways Manoj Sinha and Odisha Commerce and Transport Minister Ramesh Chandra Majhi and Railway Board Chairman AK Mital.
The MoU was as the announcement made by Railways Minister Prabhu in his budget speech this year. Prabhu had stressed for setting up of joint ventures with States for focused project development, resource mobilisation, land acquisition, project implementation and monitoring of critical rail projects.
Speaking on the occasion, Prabhu said, “The MoU will go a long way in infrastructure development in Odisha. Such JVs will provide necessary impetus for faster growth of railway network in various States, including Odisha.”
Stating that railway line acts as an engine of growth, Prabhu said, “Odisha, being a mineral rich State, has a special place in today’s economic scenario of our country and the Railway is aware of its responsibility to cater to the needs of transportation of people and goods. Odisha has got special attention since formation of the new Government at the Centre.”
The Centre enhanced the outlay for railway development in Odisha from `754 crore in 2013-14 to `1073 crore in 2014-15 and by three times in the current fiscal to `3,310 crore. In 2014-15, 33 km new line and 32 km doubling was commissioned. In the current year, the Railways has set targets for commissioning of about 150 km of network expansion projects, including 22 km new line and 128 km doubling.
In his address, Majhi said that signing of MoU is a land mark initiative and it would benefit Odisha and the country in a big way.