The agreement was signed by Shri V. P Dudeja, ED/Works on behalf of Ministry of Railways and Shri Sanjay Rastogi, Pr. Secretary/ Transport, Govt. of Odisha and Shri A K Mittal, Member of Engineering, Railway Board presided over the signing function.
MoUs have already been signed by the Ministry of Railways with seven State Governments viz. Odisha, Maharashtra, Chhattisgarh, Andhra Pradesh, Telangana, Kerala and Haryana.
The ministry of Railways will sign a concession agreement of 30 years with the project SPV for safe and sound operation, revenue sharing and providing technical & marketing logistics to the SPV.
Formation of Joint Venture Companies with the State Governments will go a long way in faster commissioning of critical rail infrastructure projects as it will not only help in mobilization of funds but also in facilitating various clearances and land acquisition.