 "Haryana govt and railways to join hands to speed up projects")
A special purpose vehicle could be formed to raise funds for the projects announced in the past few years. The state government and the railways would soon sign a memorandum of understanding (MoU).
The projects that could be taken up for speedy implementation are connections between Karnal and Yamuna Nagar, Fatehabad, Mansa and Bhatinda, Jakhal, Ratia and Fatehabad, Bhiwani, Loharu, Pilani and Churu, Rewari and Palwal via Bhiwari, Yamuna Nagar and Chandigarh, Delhi, Sohna, Nuh, Ferozpur, Jhirka and Alwar and Hisar and Sirsa via Agroha.
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The main objectives of H-RIDE will be to expedite the projects, through resource mobilisation, securing traffic guarantees and involvement of strategic partners in project funding and implementation.
It will also initiate mobilisation of revenues from the state government for non-railway operations, coordinate with different organisation and local bodies with the responsibility of urban development, and resolve ancillary matters.
One of the points in the MoU make it compulsory for the railway ministry to complete the construction of projects in a time-bound manner.
The ministry will also share the net surplus realised equally with H-RIDE for 30 years from the date of the commission of the project.
Besides, it would also replace assets during the end of the project's life of 30 years, make technological upgrade and any capacity enhancement work from its own resources or in partnership with the strategic partner.
The state government will make available land owned by it for free, with all requisite clearance, to the Ministry of Railway for execution of identified projects. The government will also create a non-lapsable fund for this specific purpose.