Indian Railways signed MoU with Odisha for implementation of railway projects

The Odisha Government and Indian Railways on 4 November 2015 inked a Memorandum of Understanding (MoU) to form a Special Purpose Vehicle (SPV) for implementation of railway projects in the state.

The MoU aims at forming a Joint Venture Company to develop railway infrastructure in Odisha.

Key highlights of the MoU

• It will work towards providing railway connectivity to Boudh, Kandhamal, Nayagarh, Nabrangpur, Kendrapada, Malkangiri and Deogarh districts.

• Maoist-affected districts will be in the high priority list.

• At least six-seven rail projects will be constructed in the state.

• A 40-km link connecting the Nabarangpur district headquarters to the nearest station at Jeypore in neighbouring Koraput district will also be built.

• The Odisha Government will have 51 percent stake in the project, while the Railways Ministry will have 49 percent stake.

• Initially, 200 crore rupees has been allocated to be spent on the project.

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