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Indian Railways on Tuesday signed a memorandum of understanding with Chhattisgarh forming a joint venture to develop railway projects in the state, taking forward its move to make States joint venture partners while building new lines and operating them.
The MoU was signed in the presence of Railway Minister Suresh Prabhu and Chhattisgarh Chief Minister Raman Singh. The Railways has already signed such agreements with Kerala, Andhra Pradesh, Odisha and Maharashtra.
The move, which will lead to sharing of capital cost, may also lead to control in staff costs for the Railways in the long run as the joint venture will bear the staff costs as well. “These joint ventures will have employees from the Railways. They will bear the staff cost as is the case in Metro rail systems,” a Railway Ministry source told Business Line.
PTI adds: Thanking the Chief Minister for accepting the Railways’ offer to take the initiative further, Prabhu said it would not only be beneficial for the state but also the nation and its economy.
He said Chhattisgarh was one of the few states with rich natural resources, including minerals.
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