The State government of Madhya Pradesh has approved fixed equity share capital for execution of Indore (Mhow) to Manmad new rail line project, connecting Indore to the Jawaharlal Nehru Port Trust.
A decision in this regard was taken at a cabinet meeting headed by Chief Minister Kamal Nath. The total cost of the project is pegged at Rs 8,931 crore.
The equity of Rs 408.64 crore which is 15 percent will be given in four years by the state government. Once the project is completed, distance from Indore to the Port Trust will be reduced by 150 km.
In August last year, an MoU for implementation of the 362 km Indore- Manmad New Railway Line Project was signed between Jawaharlal Nehru Port Trust- Ministry of Shipping, Ministry of Railways, Govt of Maharashtra and Govt of Madhya Pradesh.
The project will reduce the distance from Mumbai/Pune to key central India locations by 171 kilometers, resulting in lower logistics costs. This is especially significant as the new railway line will pass through the Delhi-Mumbai Industrial Corridor nodes of Igatpuri, Nashik and Sinnar; Pune and Khed; and Dhule and Nardana.
Image Credit : pbs.twimg.com