Indian Railways signed INR 4,000 crore to develop two rail corridors

Business Line reported that Indian Railways subsidiary, Ircon International, Chhattisgarh Government and South Eastern Coalfields have signed an agreement to develop two rail corridors at a cost of about INR 4,000 crore.

An official statement said that the preliminary work on the corridors with a combined length of 4,000 kilometer will start before the end of this calendar year. It will facilitate movement of passengers as well as freight, primarily coal.

The projects will be implemented by two JV companies in which Ircon will hold 26% equity and the balance will be held by the State Government and SECL.

Corridor I or the East Corridor will be about 180 kilometer in length from Bhupdevpur to Gharghoda to Dharamjaygarh up to Korba.

Corridor III or East West Corridor will be of about 122 kilometer from Gevra Road to Pendra Road through Dipka, Katghora, Sindurgarh and Pasan. The names of the JVCs have been proposed as Chhattisgarh East Rail Ltd for Corridor I and Chhattisgarh East West Rail Ltd for Corridor-III.

Source – Business Line

http://www.steelguru.com/indian_news/Indian_Railways_signed_INR_4000_crore_to_develop_two_rail_corridors/290880.html

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