Guwahati: In a major decision that could transform the way railways function in Assam, the state cabinet has approved the formation of a joint venture company between the state government and the railway ministry to increase the railway network in the state.

The JV will be called Assam Rail Infrastructure Development Corporation Limited (ARIDCL). The state government will hold a share of 51 percent and the ministry the remaining 49 percent.

According to the state government, the ARIDCL will ensure speedy implementation of ongoing projects, besides working out possible financing avenues, cabinet minister Pijush Hazarika said.

It may be mentioned here that Railway Minister Suresh Prabhu in 2016 had announced a Rs 5,000 crore joint venture project with the Assam government for the construction of four elevated railway tracks between Kamakhya and New Guwahati.

The move is aimed at eliminating 12-level crossing gates in Guwahati.