The Union Cabinet approved two railway projects worth Rs 6,798 crore and a Space Sector Venture Capital (VC) Fund of Rs 1,000 crore Thursday. These railway projects are doubling of Narkatiaganj-Raxaul-Sitamarhi-Darbhanga and Sitamarhi-Muzaffarpur Section (North Bihar) covering 256 kilometres (kms) and construction of a new line between Errupalem and Namburu through Amaravati ( Andhra Pradesh) covering 57 kms.
Union Minister for Information Broadcasting, Ashwini Vaishnaw said the VC fund would be supporting startups through equity infusion or through Compulsory Convertible Debentures (CCDs).
The newly announced railway projects will complete in the coming five years, an official statement said.
These routes are essential for transport of agriculture products, fertilizer, coal, iron ore, steel, cement, among others. The capacity augmentation works will result in additional freight traffic of magnitude 31 MTPA (Million Tonnes Per Annum).
This will also strengthen connectivity to Nepal, North-east India and Border areas.
According to the Railway Ministry, the new line proposal will provide direct connectivity to “Amaravati” the proposed Capital of Andhra Pradesh. This is expected to improve mobility for industries and the population, providing enhanced efficiency and service reliability.
A statement from the Department of Space said the proposed Rs 1,000 crore VC fund is planned to be operational up to five years from the actual date of start of operations. “The average deployment amount could be Rs.150-250 crore per year, depending on the investment opportunities and fund requirements,” the statement added.
The indicative range of investment is proposed to be Rs 10 to Rs 60 crore, contingent upon the stage of the company, its growth trajectory, and its potential impact on national space capabilities.
Union Minister for Information Broadcasting, Ashwini Vaishnaw said the VC fund would be supporting startups through equity infusion or through Compulsory Convertible Debentures (CCDs).
The newly announced railway projects will complete in the coming five years, an official statement said.
These routes are essential for transport of agriculture products, fertilizer, coal, iron ore, steel, cement, among others. The capacity augmentation works will result in additional freight traffic of magnitude 31 MTPA (Million Tonnes Per Annum).
This will also strengthen connectivity to Nepal, North-east India and Border areas.
According to the Railway Ministry, the new line proposal will provide direct connectivity to “Amaravati” the proposed Capital of Andhra Pradesh. This is expected to improve mobility for industries and the population, providing enhanced efficiency and service reliability.
A statement from the Department of Space said the proposed Rs 1,000 crore VC fund is planned to be operational up to five years from the actual date of start of operations. “The average deployment amount could be Rs.150-250 crore per year, depending on the investment opportunities and fund requirements,” the statement added.
The indicative range of investment is proposed to be Rs 10 to Rs 60 crore, contingent upon the stage of the company, its growth trajectory, and its potential impact on national space capabilities.
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