Centre Moots SPV to Complete State's Pending Rail Projects.

Railway Minister Suresh Prabhu recently proposed that a special purpose vehicle (SPV) should be formed with equity participation from the Railways and the Odisha Government for timely completion of projects in the State.

The first meeting in this regard between the officials of the Railway Board and State's Commerce and Transport department will be held at New Delhi soon. The Railway Minister broached the idea to Chief Minister Naveen Patnaik, who met him at New Delhi and demanded adequate funds for the State's railway projects. The structure of the SPV will be finalised after the official meeting.

Prabhu assured adequate funds for all ongoing and new projects proposed by Odisha Government in 2015-16 Railway Budget. The ongoing work relating to Nabakalebara will also be completed on priority before July 2015, he said.

Naveen said five ongoing railway projects in the State, out of which four were sanctioned two decades back, need to be completed in time with provision of adequate funds. These are Khurda-Balangir, Haridaspur-Paradip, Angul-Duburi-Sukinda, Talcher-Bimlagarh and Jaleswar-Digha railway line projects.

THE NEW INDIAN EXPRESS