MoR and Madhya Pradesh government to sign JV agreement

The Madhya Pradesh government and Indian Railways (IR) are expected to sign an MoU to form an SPV to implement the Manmad-Indore new rail line project. The Maharashtra government will also have a stake in the SPV. The 339 km line will be developed at an investment of Rs 22.57 billion. IR will bear 50 per cent of the cost, while the Madhya Pradesh and Maharashtra governments will bear 25 per cent each.