Union Railways Minister Suresh Prabhu and Union Coal Minister Piyush Goyal were present during the signing of the MoU. While Odisha government will have 10% equity in the SPV, the Coal Ministry will have 60%, while the Railways will have 26% share.
The SPV will develop rail infrastructure to allow smooth transportation of coal from the mines of Odisha. The new SPV will facilitate speedy evacuation of coal from Talcher and Ib valley coalfields.