Railways to form SPVs with all states: Suresh Prabhu

Hyderabad, Jan 19: The Indian Railways has decided to form Special Purpose Vehicles (SPVs) with all the states to undertake specific railway projects in the concerned states, said Railway Minister Suresh Prabhu. He told reporters here Monday that the SPVs will be formed with equity participation from the Railways and the state governments concerned. "Some state or other always complains justice is not done to them in sanctioning railway projects. We have decided to have SPVs with each state to meet its specific requirements," he said. The minister said each state will decide the priorities and send it to the Railways, which will execute projects under the SPV. "What surplus is generated will remain with the state for expansion of rail network and other works," he said. Prabhu, who flagged off two new trains at Secunderabad Railway Station, said during a meeting with Andhra Pradesh Chief Minister N. Chandrababu Naidu three days ago they decided to form the SPV.