She said that a draft MoU by Railways regarding forming a Special Purpose Vehicle (SPV) for three projects did not adequately reflect certain concerns of her government.

In a letter to PM Modi, Jayalalithaa cited she had proposed 10 railway projects to boost industrialisation as part of 'Vision Tamil Nadu 2023', with three of them being prioritised for implementation through SPV between state government and the Railways.

"Given the importance of these three projects, the Government of Tamil Nadu has already indicated that it would be willing in-principle to enter into an MoU with the Indian Railways," she said, adding, her government had indicated "some specific conditions."

Since land was "typically" provided by Tamil Nadu, it should be treated as part of the state government's equity contribution to the SPV at market value, she cited.

Other conditions included matching equity contributions from Railways in cash or in the form of land owned by it or other Central Government departments.

In the case of equity contributions in cash, there should be assurances that the funding would be made in time to ensure that projects did not suffer delays due to lack of adequate funding. Further, the governance structure should bewell-balanced, with adequate participation of the state government, she said.

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