With a view to strengthen the rail network and ensuring its speedy progress, a new joint venture company with the Ministry of Railways, namely ‘Haryana Rail Infrastructure Development Corporation Limited (HRIDC)', has been set up by the Haryana Government.

Facts :

• 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 15.04.2018 with Initial Authorized Capital of Rs. 8.0 Cr.
• The new firm Haryana Rail Infrastructure Development Corporation Limited (HRIDC) is established under the Companies Act, 2013 with registered office at Panchkula for taking care of railway projects.
• The decision to form this company came after allegations about delay in the start of a railway Projects in the state which had been sanctioned during the tenure of previous government.
• The main aim of the HRIDC was to expedite the railway and infrastructure projects, their implementation and ensuring better coordination with the government.
• The Chairman of the Board of Directors of the Company (HRIDC) is Sh. Depinder Singh Dhesi, IAS (Chief Secretary, Govt. of Haryana).
• The HRIDC has initiated the process of preparation of feasibility reports of seven new rail projects - 91-km-long Yamunanagar-Chandigarh via Naraingarh and Sadhaura; 104-km-long Delhi-Sohna-Nuh-Ferozpur Zhirka Alwar; 73-km FarukhanagarJhajjar-Charkhi Dadri; 46-km Jind-Hansi; 58-km Bhiwani- Loharu; 66-km Karnal-Yamunanagar and 10-km railway sliding project, Manesar.
• Interestingly, the Hisar-Fathehabd-Sirsa project, which had been cancelled by the NDA government on account of non-feasibility, does not figure in the projects planned by Haryana.
• The government has prioritised the demands of the people while preparing these reports.

Scope of HRIDC :

• 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.

Strategic Objectives :

• 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