Rail Vikas Nigam
Limited has been set up as a Special Purpose Vehicle (SPV) for
executing projects included under "Strengthening of Golden
Quadrilateral". The SPV may also undertake other bankable
projects covered under National Rail Vikas Yojana (NRVY).
The Rail Vikas
Nigam Ltd. has been registered as a Public Limited Company under
the Companies Act, 1956 on January 24, 2003. The main objects
of the Company as per the Memorandum and Articles of Association
are:
To enter into and
carry on business relating to creation and augmentation of capacity
of Rail infrastructure but not limited to the Golden Quadrilateral
alone and its Diagonals connecting the four metros and may include
any other project(s) under National Rail Vikas Yojana and related
activities.
Acquire, purchase,
lease, licence, concession, or assign rail infrastructure assets
including contractual rights and obligations.
The National Rail
Vikas Yojana includes projects pertaining to (i) Strengthening
of Golden Quadrilateral (ii) Strengthening of Rail connectivity
to ports and development of multimodal corridors to hinterland
(iii) Construction of four Mega Bridges. Funding of these projects
is planned through a mix of budgetary and non-budgetary resources.
ADB Railway Sector Loan of US$ 313.6 million has been tied up
for execution of Golden Quadrilateral strengthening projects.
NRVY is to be completed in a time frame of five years.
NRVY includes 62
projects out of which 33 are not sanctioned. Studies of these
projects are under process.
A Committee of
Additional Members has been constituted to monitor the progress
of works under the Yojana.
