A new pact will be signed between JNPT, railways and state governments of Madhya Pradesh and Maharashtra for implementing Rs 8,574.79 crore Indore- Manmad Railway Line Project on Tuesday. The government announced about the pact on Monday for Indore- Manmad Railway Line Project. The new project will start soon to connect Mumbai to key Central India.
The shipping Ministry said “A MoU will be signed tomorrow between JNPT- Ministry of Shipping, Ministry of Railways, Govt of Maharashtra and Govt of Madhya Pradesh for implementation of 362 km Indore- Manmad New Railway Line Project,” in a statement.
This new line will shorten the distance from Mumbai, Pune to key central India locations by 171 km.
The statement even shared that the Rs 8,574.79 crore project will pass through Delhi-Mumbai Industrial Corridor nodes Igatpuri, Nashik and Sinnar; Pune and Khed; and Dhule and Nardana.
The project will provide in cumulative net economic benefits of Rs 15,000 crore in the initial 10 years of operation and it will even provide a shorter way for passengers as well as the freight traffic.
The new ambitious project will cut off the logistics cost for the cargo centres located in the northern regions like Lucknow, Gwalior, Agra and Kanpur. It will even reduce logistics cost in Indore, Dhule and Bhopal region to gateway ports JNPT and Mumbai.
The project will be built in six years and it will even provide an alternative route to the existing central and western railway lines. It will decongest the traffic covering the present railway networks. The new project will also create employment and cut off the excessive fuel consumption and vehicle operating costs. It will also contribute to the reduction of pollution.
The feasibility, traffic and bankability of project were checked by the Indian Port Rail Corporation Limited (IPRCL). Railway Board even gave permission for the project through IPRCL on Joint Venture SPV model.
The statement said,”The proposed SPV would be in the form of a Joint Venture Company between Shipping ministry or its nominated PSUs including JNPT (which will be the main promoter). The government of Maharashtra or its nominated PSUs/Entity, Government of Madhya Pradesh or its nominated PSUs/Entity, and others,”.