The Indian ministry of railways has formed JV with state governments, major ports and other stakeholders in a number of gauge conversion, new line and other projects.

The ministry of railways directly or through its Public Sector Undertaking/other organizations has equity participation in the following JV

1. Pipavav Railway Cooperation Limited

2. Hassan Mangalore Rail Development Company Ltd, Kutch Railway Company

3. Bharuch Dahej Rail Company Limited 

4. Angul-Sukinda Railway Ltd

5. Haridaspur-Paradip Railway Company Ltd

6. Indian Railway Stations Development Corporation Ltd

7. Kolkata Metro Rail Corporation Ltd

8. Bhartiya Rail Bijlee Company Ltd

This information was given by the minister of state for railways Mr Adhir Ranjan Chowdhury in written reply to a question in Lok Sabha.