MCRL JV: For strengthening the freight lines and to help faster evacuation of Coal from State, a Joint Venture Company has been formed between Government of Odisha (IDCO), Ministry of Coal (MCL) and Ministry of Railways (IRCON), with equities of 10%, 64% and 26% respectively. “Mahanadi Coal Railway Limited (MCRL)” has been formed on 31-08-2015 by merging the “Brahmani Railway Company Limited” of Government of Odisha.
HPRCL SPV: A new alternate line between Paradip Port and Haridaspur (between Cuttack-Bhadrak) of 82 kms, was sanctioned by Railways in Year 1996-97, was languishing for want of adequate fund. To expedite its formation, a Special Purpose Vehicle (Haridaspur Paradip Railway Company Ltd) has been created in which Government of Odisha has now got 22.5 % equity (Rs.114.8 cr) directly and a total of in excess of 33% equity along with other PSUs of the Government of Odisha. This line is connecting the hitherto unconnected and underdeveloped Kendrapada District to the Railway map of Odisha. It envisages to complete the Project by December 2017.
ASRL SPV: A 90 km new line between Angul (Talcher) to Sukinda has been sanctioned in the year 1997-98 to reduce the distance between the two most important mineral belts of Odisha. As with HPRCL, this project also needed Government of Odisha to come forward and invest to make the SPV viable. Govt of Odisha with its PSUs is the highest equity holder in this company and pushing the project for an early completion.
IPRCL SPV : To create a new Heavy Haul new line between Talcher and Paradip, Ministry of Shipping has formed a SPV named Indian Port Rail Company Ltd (IPRCL) with partnership with Ministry of Railways. Government of Odisha has given conscent to take 10% equity to make the SPV viable.
State Specific JV: Government of Odisha initiated steps to form a JV with Ministry of Railways for formation of a JV company that would have the mandate to identify and construct new Railways lines as per the needs of the freight and passenger rail users. A MoU for Odisha was signed on 04-11/2015 and after the terms were negotiated a JV agreement has been signed by both parties (with Govt of Odisha with 51% equity) on Dt. 14.06.2016.
In the Railway Budget 2016-17, Projects of new line between Barhampur-Sambalpur (via Kandhamal); Junagarh to Ambaguda (via Nabarangapur); Badbil-Banspani and Barsuan-Narayangarh have been identified which can be considered through this JV company.