Railway Ministry today signed an MoU in New Delhi with the Government of Chhattisgarh to set up joint venture for Railway project in the state. The memorandum of understanding in this regard was signed in the presence of Railway Minister Suresh Prabhakar Prabhu and Chief Minister of Chhattisgarh Dr Raman Singh. <br/><br/>On the occasion Railway Minister said Chhattisgarh have vast natural resources which can be used for the country's prosperity. He said the MoU envisages formation of a Joint Venture Companies with 51 per cent stakes of the respective State Government and 49 per cent of Ministry of Railway.<br/><br/> Chief Minister of Chhattisgarh Raman Singh said after laying new rail lines under the project will be reduced the distance between Mumbai and Kolkata. On the question of Naxal problem, Dr Singh said despite naxalite problem the iron ore are being sent to Viskhapattanam. He said with development taking centre stage in naxal affected districts the problem would gradually vanish. <br/><br/>AIR correspondent reports that 17 State Governments have consented for formation of Joint Venture Companies in collaboration with the Ministry of Railways for development of rail infrastructure in their concerned States. Odisha and Maharashtra have already signed MoU with the Railways Ministry.