Bhubaneswar,November 5: The state government on Wednesday signed a Memorandum of Understanding (MoU) with Railways ministrty at New Delhi for the Special Purpose Vehicle (SPV) that would bestow the seven districts in Odisha deprived of rail links till date.
The MoU has been signed to provide railway connectivity to Boudh, Kandhamal, Nayagarh, Nabrangpur, Kendrapada, Malkangiri and Deogarh districts in Odisha.
In accordance with the MoU, a SPV committee will be set up to implement the project on a Joint Venture (JV) mode to be headed by the Odisha Government's representative and its headquarters will be at the state capital here.
While Odisha Government will have 51% stake in the project, the Railways Ministry will have 49% stake, as per the MoU signed.
In the initial phase Rs 200 crore has been earmarked to be spent on the project.
Union Railways Minister Suresh Prabhu, his colleague Minister of State for Railways Manoj Sinha, Union Tribal Affairs Minister Jual Oram, Odisha Transport Minister Ramesh Majhi along with all the parliamentarians from Odisha were
present during the signing of the historic MoU.