Railways today signed Memorandum of Understandings, MoUs with governments of Kerala and Andhra Pradesh for formation of Joint Venture Companies to develop Railway infrastructure in the States. <br/><br/>Under the Joint Venture, 51 per cent of the stakes will be of the concerned State government while Railways will have 49 per cent. The companies will identify projects and possible financing avenues for the projects. <br/><br/>Speaking on the occasion in New Delhi, Minister of Railways, Suresh Prabhu said, so far 17 State governments have given their consent for setting up Joint Ventures for development of rail infrastructures in the States. <br/><br/>He said, Railways have taken up the revamping of 400 Stations which is a very massive activity and such MoUs will mobilize large resources for the projects. Mr Prabhu said, despite less investments in Railways as compared to the road sector,Railways have been the cheapest mode of transportation.