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Our Bureau

New Delhi , Aug. 24

The Union Cabinet on Thursday approved setting up of a Special Purpose Vehicle (SPV), under the Railway Ministry, for the execution of the dedicated rail freight corridor project. However, an inter-ministerial Committee would oversee the time-bound implementation of the project.

The SPV would execute the project that envisages building rail links along the Golden Quadrilateral routes and its diagonals.

Time-bound

An empowered committee under the Chairmanship of the Cabinet Secretary, consisting of the Chairman Railway Board, the Finance Secretary, Secretaries of Planning Commission, Ministries of Law, Environment and Forest, and Departments of Road Transport, Highways and Shipping as also the Managing Director of the SPV would be constituted to monitor the time-bound implementation of the project, according to an official statement.

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