Tamil Nadu is yet to agree to the terms and conditions proposed by the Ministry of Railways to set up a joint venture company to speed up railway projects in the state. The ministry has been urging the government to sign the agreement for close to a year.
Talks are on between the government and the railways to set up a joint venture. However, it is getting delayed as the government is not agreeing to the proposed to a 50-50 partnership in investment for the projects.
A similar venture, Kerala Rail Development Corporation (KRDC), between the rail ministry and the Kerala government with an equity participation of 49:51 ratio, meanwhile, is on track. The ministry and that state are in the process of finalising a detailed project report.
Southern Railway general manager R K Kulshrestha, at a press conference to explain the achievements of the zone, on Wednesday, said, the ministry had suggested a similar joint venture company for Tamil Nadu. Read More
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