Imphal Jan 31:
Ministry of Railways has sought the State Government’s consent to form Special Purpose Vehicle (SPV) for raising funds for rail infrastructure projects.
Sources said that Special Purpose Vehicle is being proposed with a view of financial participation from State Government and if possible also explore the possibility of roping in industries in this venture. The state Government has to send a draft proposal in this regard to the Ministry of Railways.
A meeting of concern officials was held in Imphal in connection with this. As per the decisions made in the meeting Transport Department shall be the Nodal Department in all matters connected with the proposed SPV, Transport Department shall submit a draft proposal as required by the Ministry of Railways. It shall tie up with the Railway Ministry officials and collect any further information that may be required in connection with the proposal. The proposal shall be duly vetted by the Finance and Planning Departments, a meeting in this regard shall be held again in which officials of Railways Ministry will be invited.