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Gujarat govt sets up SPV to implement Rs 50 bn project

Gujarat govt sets up SPV to implement Rs 50 bn project
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The Gujarat government set up a special purpose vehicle with an initial authorized capital of Rs 200 crore to implement a dedicated regional rail system project.

State-run RITES is learnt to have submitted to the Gujarat government, the final feasibility report for the project, which is expected to cost Rs 5,000 crore at the current price. Initially, the estimated cost of the project was Rs 2,500 crore in 2004.

The rail network project would connect peripheral towns like Sanand, Viramgam, Dholka, Dhandhuka, Kalol, Kadi, Nadiad, Anand and Naroda.

The state government is reportedly expediting this project considering the delay in the Ahmedabad-Gandhinagar metro rail project.

Ahmedabad Regional Rail Company (ARRC), which is the name of the SPV, will co-ordinate with the Indian Railways, urban & rural local bodies as well as industries and mines department.

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