16 States agreed to share the Project

New Delhi December 5 : According to Railway officials, 16 states was given green signal to the letter written by railway Minister Suresh Prabhu to all states to become partners in rails project.In order to implement the laying new railway lines has been undertaking the steps to mobilize resources from a given budget."State Government have agreed to Share 25-66 percent cost of the 43 projects worth Rupees 62379 crore," a senior railway official said.Chhattisgarh, Gujarath, Haryana, Kerala and Odisha governments have signed agreements to create specific joint venture companies to undertake development works.States like Andhra Pradesh, Maharashtra have also agreed to form joint venture companies.States like Odisha, Maharashtra and Chattisgarh are keen on developing the stations at world class level in their respective states.This joint venture company can form Project specific subsidiary company which may have equity holding by other stakeholders like banks, PSUs, ports and mining companies for better implementation.