Home ECONOMY  Float SPVs for rail projects, Railways suggests to Odisha

 Float SPVs for rail projects, Railways suggests to Odisha

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Odisha Sun Times Bureau
New Delhi, Dec 12:

Railway minister Suresh Prabhu today informed the Rajya Sabha that the Railways have suggested the Odisha government to float special purpose vehicle (SPV) for completion of some of the long-pending projects in the state.

railway line

The minister, while making a statement during Question Hour, said Odisha Chief Minister Naveen Patnaik liked the idea when he proposed it during the latter’s recent visit to Delhi.

“The Railways would take up these pending projects if the state government participates in the SPV,” he added.

The Railway minister also informed the members that though the survey work had shown negative rate of return for the Nabarangpur-Jeypore project, the ministry is committed to take such projects forward in the larger interest of the state.

He, however, said that the Railways is saddled with projects to the tune of Rs 4-6 lakh crore announced over the years of which a majority are not viable.

Raising the issue in the Upper House, Odisha members AV Swamy, AU Singhdeo and Bhupinder Singh referred to the pending projects such as the Khordha-Bolangir rail link and the the Nabarangpur-Jeypore rail project.

They said implementation of the project will benefit the KBK region and address issues in the Naxal-affected regions of the state.

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