Indian Railways signed MoU with Odisha for implementation of railway projects

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Who: Indian Railways and Odisha
What: Signed MoU
When: 4 November 2015
Why: 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.