Chennai, Feb 6 (IANS) Tamil Nadu Chief Minister O.Panneerselvam Friday expressed the state's willingness to sign a memorandum of understanding (MoU) with Indian Railways for implementing three projects through a special company.
In a letter to union Railway Minister Suresh Prabhakar Prabhu he said three of the trunk infrastructure projects proposed by the state under its Madurai Thoothukudi Industrial Corridor are railway projects.
"Hence, the Government of Tamil Nadu would be willing in principle to enter into an MoU to set up an SPV to promote these three railway projects proposed in the Madurai Thoothukudi Industrial Corridor," Panneerselvam said.
The three projects are the Chennai-Thoothukudi freight corridor, Chennai-Madurai-Kanniyakumari high speed passenger link and Coimbatore-Madurai high speed passenger link.
Panneerselvam also suggested that the land provided by the state government for the railway projects should be treated as part of its equity contribution to the special purpose vehicle (SPV) at market value with matching contribution by the Indian Railways by way of cash or land.
"In the case of equity contributions in cash, there should be assurances that these contributions by both sides would be made in time to ensure that projects do not suffer delays due to lack of adequate funding," Panneerselvam said.
Referring to the ensuing railway budget, Panneerselvam requested the railway minister to ensure adequate funds for the doubling of the Chennai-Kanniyakumari broad gauge line; the Avadi-Guduvancheri and the Avadi/Tiruvallur-Ennore port link projects.
"I expect that the Chennai-Bengaluru freight corridor and the Chennai-Bengaluru high speed passenger link would be high priority projects under the Chennai-Bengaluru Industrial Corridor promoted by the Department of Industrial Policy and Promotion, Government of India," Panneerselvam added.
Listing 22 projects announced by the earlier railway ministers he requested Prabhu to allocate sufficient funds in the ensuing budget to complete them.
Adani Group Rejects Airline Launch Reports, Calls Aviation Entry Speculation 'Baseless'
Adani Enterprises has officially denied reports suggesting that the Adani Group is planning to la
The Supreme Court has directed the Uttar Pradesh government on Wednesday (April 28) that Siddique
Former Indian High Commissioner to Bangladesh Veena Sikri has slammed Bangladesh Chief Advisor Mu
Know why Rakesh Tikait said - it will not take long for another big movement to arise in the country
Rakesh Tikait, the national spokesperson of the Bharatiya Kisan Union, has once again threatened
Crime in Odisha on the rise: Naveen Patnaik
Bhubaneswar, March 17 (IANS) Crime in Odisha is on the rise as 93,657 cases were registered in
Gold and silver prices witnessed a sharp decline on Friday. Following a continuous surge, t
The recently released web series 'IC-814: The Kandahar Hijack' has been mired in controversies. A
The havoc of Corona is not over yet and China has started making new viruses with the Pakistan Ar
GST 2.0 rates came into effect today, what will be the benefits and impact? Understand in 10 points.
A major change has been implemented in the Goods and Services Tax (GST) from today. The new GST r
The England team faces much criticism after the crushing defeat to India at Edgbaston. After the
