Rail Vikas Nigam to hold 10% in new ports infra entity

Government-owned Rail Vikas Nigam Ltd (RVNL) is to take 10 per cent equity in the new public sector unit (PSU) to be formed to enhance port connectivity through the railways. All 12 major port trusts intend to jointly form the proposed company to be called Port Infrastructure Vikas Nigam Ltd (PIVNL). The PSU will be formed with equity stakes from all 12 major ports and RVNL, with a 90:10 shareholding pattern. The initial authorised share capital will be around Rs 100 crore, divided into a million equity shares of Rs 1,000 each. The company will construct, operate and maintain rail and road infrastructure.