March 8, 2002

'23'

RAJYA SABHA

    As per the Memorandum of Understanding signed between the Ministry of Railways and Government of Karnataka, the following four projects have been identified for execution through K-RIDE(Rail Infrastructure Development Company(Karnataka Limited):

1.Hubli-Ankola New Line

2.Solapur-Gadag Gauge Conversion

3.Hassan-Mangalore Gauge Conversion

4.Guntkal-Hospet Doubling

    Subsequent to signing of MOU ,the scheme has undergone some changes. Now, it is proposed to form a project implementation company K-RIDE. The Company will implement the four identified projects either by creating a separate project specific SPV or making any other financial arrangement. Necessary approvals for formation of a joint venture company K-RIDE with initial equity share of 50-50 between Ministry of Railways and Government of Karnataka is being obtained.

    This information was given by the Minister of State for Railways , Shri O.Rajagopal in a written reply to a question by Shrimati Bimba Raikar and Shri K Rahman Khan in Rajya Sabha today.