The JV agreement between MOR and GOH was signed on 15.7.2016 for the formation of JV Company. Accordingly, Haryana Rail Infrastructure Development Corporation Ltd (HRIDC) has been incorporated on 22.08.2017 with Initial Authorized Capital of Rs. 8.0 Cr.
- Development, financing, and implementation of viable Railway projects and/ or projects which may require viability gap funding that is important for critical connectivity/ capacity enhancement, as agreed by parties;
- Undertaking survey, preparation of Detailed Project Report (DPR) to examine the viability of the railway projects;
- Processing of sanctioning of the Railway projects (Identified by the Boards or the parties);
- Incorporation and funding of subsidiaries/ Special Purpose Vehicles for undertaking Railway projects; and
- Undertaking all such actions not specifically mentioned above, that may be required to give effect to the intent of the parties, as set out in the Agreement.
- Anchor role to the State Government in the Planning and Implementation of Railway Infrastructure
- Speed up the Development of Railway Projects on state’s priority
- Act as a nodal agency to plan and complement the development of railway infrastructure in the State.
- Connect the identified unserved regions in the state
- Generate greater financial resources through participation of the State, other stakeholders, including the private sector in project-specific SPVs