India’s Jawaharlal Nehru Port Trust of the Ministry of Merchant Marine to sign a Memorandum of Understanding with the country’s Ministry of Railways and the governments of Maharashtra and Madhya Pradesh to develop the 85-mile Indore – Manmad Railway Line Project, 75 billion rupees ($1 billion). .
Construction of the 362 km railway line is expected to be completed within six years, with the ultimate goal of reducing the distance between Mumbai/Pune and major destinations in central India by 171 km.
The line will pass through the Delhi-Mumbai industrial corridor nodes of Igatpuri, Nashik and Sinnar, Pune and Khed, as well as Dhule and Nardana.
“The project is estimated to result in cumulative net economic benefits of Rs 150 billion ($1.9 billion) in the first ten years of operation.”
India’s Ministry of Shipping said in a statement: “The project is expected to generate cumulative net economic benefits of Rs 150 billion ($1.9 billion) in the first ten years of operation.
“Its logistical benefits include providing a shorter route for passengers, as well as freight traffic to/from or through the region.”
The new proposed Indore-Manmad new railway line will be developed as an alternative route to the current railway lines in central and western India.
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The line is also expected to help create employment opportunities, as well as reduce pollution, fuel consumption and vehicle operating costs.
The development of the project will be carried out by Indian Port Rail, through the SPV joint venture model. The Joint Venture is made up of the Indian Minister of State (MoS) or his or her designated Public Sector Enterprises or Entities (PSUs) including JNPT, Government of Madhya Pradesh and Government of Maharashtra or their designated PSUs.
JNPT, which holds a 55% stake in the SPV, will be the main promoter of the project.