In a significant infrastructural development, the Union Cabinet chaired by Prime Minister Narendra Modi approved two major railways projects. The projects are worth INR 6,798 crore, aimed to enhance the connectivity of the two states, Bihar and Andhra Pradesh.
These projects are expected to be completed within 5 years. It will improve connectivity, facilitate travel, minimize transportation costs, reduce oil imports, lower carbon emissions and boost the overall regional development. This rail project is part of a broader initiative to expand the Indian Railways network and improve infrastructure. It will substantially benefit millions of people across various states.
The projects include
Bihar: Doubling of the Narkatiaganj-Raxaul-Sitamarhi-Darbhanga and Sitamarhi-Muzaffarpur Railway sections
This project covers a total of 256 kilometers of the area. It will enhance connectivity to Nepal, North-East India, and border areas. It will make the route smoother and effective for the travelers and good trains. This will enable socio-economic development in the region.
Andhra Pradesh: Construction of a new railway line between Errupalem and Namburu via Amaravati
This project spans an area of 57 kilometers. It will improve connectivity in the NTR Vijayawada and Guntur districts as well as the Khammam district in Telangana. It aims to enhance mobility for industries and the local population. This project will provide direct access to Amaravati, the proposed capital of Andhra Pradesh.
In a recent statement, the officials said that the two projects covered eight districts in three states, i.e. Andhra Pradesh, Telangana, and Bihar. It will increase the existing network of Indian Railways by about 313 km.
The officials further said, “These are essential routes for transportation of commodities such as agriculture products, fertilizer, coal, iron ore, steel, cement, etc. The capacity augmentation works will result in additional freight traffic of magnitude 31 MTPA (million tonnes per year).”
What Union Minister say?
The Union Minister Ashwini Vaishnaw also announced that the cabinet has accepted the establishment of an INR 1000 crore Venture Capital Fund for the space sector. This has been approved under the aegis of IN-SPACe and two separate projects for the Ministry of Railways, with a combined estimated cost of INR 6,798 crore.
The allocated funds under the above projects are expected to assist around 40 startups. The average annual setups are likely to range between INR 150 crore and INR 250 crore. It will be depending on the investment opportunities and funding needs.
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