Kerala: Joint venture with railways for key projects on September 1

Kochi: The state government and the railways would enter into a formal agreement over formation of a joint venture company to execute key railway projects in Kerala on a cost-sharing basis on September 1. "All arrangements have been made for formal signing of the pact. The cabinet had approved the process earlier this month. With the formal signing, we'll identify viable projects and implement them on a priority basis," said Chief Secretary S M Vijayanand.

As many as eight projects, including the Rapid Rail Transit System (RRTS), rail coach factory at Kanjikode, and the Sabari Rail have been earlier identified for execution through cost-sharing. However, the LDF government is keen to include the High Speed Rail Corridor among the projects to be implemented.

“The idea is to provide a fast mode of transport and also provide an alternative single line by the side of the existing line. At many sections, the railways own land and the state government could provide the remaining facilities. It was included in the Governor's address which reflected the government's policies,” Transport Minister A K Saseendran said.

As per the memorandum of understanding (MoU) signed in New Delhi on January 27, the state will have 51 per cent equity share and the railways 49 per cent in the company, which will have an authorised share capital of Rs 200 crore.
The previous UDF government gave top priority for the Rs 3330.78 crore Rapid Rail Transit System (RRTS) proposed for the 125.65-km stretch between Thiruvananthapuram and Chengannur.