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

Ircon signs MoU with Chhattisgarh govt for rail corridors

Aiming at expansion of railway infrastructure for smooth movement of passengers and freight in Chhattisgarh, the state government has joined hands with Ircon and South Eastern Coalfields for construction of about 300 km of rail network.

A MoU envisaging the development two rail corridors in the state was signed between Chattisgarh government, South Eastern Coalfields Ltd (SECL) and Ircon in Raipur last week, said a release.

The rail corridors project will be implemented in joint venture model in which Ircon, a subsidiary of railways, will hold 26 per cent equity and the balance will be held by the state government and SECL.

The project — East Corridor and East-West Corridor — would come up at an estimated cost of Rs 4,000 crore.

While East Corridor will be about 180 km from Bhupdevpur—Gharghoda—Dharamjaygarh up to Korba, the 112-km long East-West Corridor will be from Gevra Road to Pendra Road.

The corridors are expected to facilitate movement of passengers as well as freight traffic mainly coal.

The preliminary work on the corridors will start this year.

http://www.thehindubusinessline.com/industry-and-economy/logistics/ircon-signs-mou-with-chhattisgarh-govt-for-rail-corridors/article4067629.ece?ref=wl_industry-and-economy