The Jawaharlal Nehru Port Trust, under the Ministry of Shipping, on August 28, 2018, signed a Memorandum of Understanding (MoU) with the Ministry of Railways, Maharashtra and Madhya Pradesh for implementation of the 362 km Indore- Manmad New Railway Line Project.
1. The implementation of the project will be through the Indian Port Rail Corporation Limited (IPRCL) on Joint Venture SPV model.
2. The Jawaharlal Nehru Port Trust (JNPT) will be the main promoter of the project.
3. A Joint Venture Company will be formed between the Ministry of Shipping or its nominated entity including JNPT with the equity share of 55 per cent; Maharashtra or its nominated entity; Madhya Pradesh or its nominated entity; and others with an equity share of 15 per cent each.
4. The project is estimated to result in cumulative net economic benefits of Rs 15000 crore in the first ten years of operations.
5. It will help in employment generation, reduction in pollution, fuel consumption and vehicle operating costs.
6. The project will be constructed within six years.