4000 Crores Deal Signed to Develop Two Rail Corridors
Indian Railways subsidiary Ircon International, Chhattisgarh Government, and South-Eastern Coalfields (SECL), have signed an agreement to develop two rail corridors at a cost of about Rs 4,000 crore. The preliminary work on the corridors with a combined length of 4,000 km, will start before the end of this calendar year, said an official statement. It will facilitate movement of passengers and freight, primarily coal.
The projects will be implemented by two joint venture companies in which Ircon will hold 26 per cent equity and the balance will be held by the State Government and SECL. Corridor-I or the East Corridor will be about 180 km in length from Bhupdevpur-Gharghoda-Dharamjaygarh up to Korba.
Corridor-III or East West Corridor will be of about 122 km 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.
– Hindu Business Line