The Indian Railway Finance Corporation (IRFC) has successfully executed a refinancing facility of INR 2,539 crore for Angul Sukinda Railway Limited (ASRL), a Special Purpose Vehicle (SPV) operating within the railway framework.
The loan agreement was officially signed today at the IRFC office in New Delhi by Mr. Dilip Kumar Samantray, Managing Director of ASRL, and Ms. Deepa Kotnis, Executive Director (Finance) of IRFC, in the presence of senior officials from both organisations.
Established in 1986 as the dedicated financing arm of the Ministry of Railways, the IRFC has played a critical role in enhancing India’s railway infrastructure by mobilising resources at competitive rates. Recently accorded with ‘Navratna’ status, the company is expanding its capabilities as a diversified infrastructure financier within the railway sector, encompassing projects that encompass both forward and backwards linkages. These projects include areas such as power generation and transmission, mining, fuel, coal, warehousing, telecommunications, hospitality, metro rail, freight corridors, and ports, among others.
ASRL, which is promoted by Rail Vikas Nigam Limited (RVNL), Container Corporation of India Ltd. (CONCOR), the Government of Odisha, and private partners, manages a vital 113.4 km broad-gauge railway line in Odisha. This line connects mineral-rich regions to major coal, steel, power, and port facilities, acting as a strategic freight corridor.
The refinancing package offered by IRFC provides tailored financial support through more competitive financing terms and a repayment structure that aligns with the project’s actual revenue cycles. These measures not only enhance ASRL’s capacity to fulfil its financial commitments but also liberate resources for expansion, capacity enhancement, and operational improvements.
Speaking on the occasion, IRFC Chairman and Managing Director said, “IRFC is the one-stop dedicated financier for all project requirements in the railway ecosystem, with forward and backwards linkages. We are committed to providing competitive financing solutions that create a win-win for all stakeholders, while supporting nation-building and strengthening India’s ever-growing logistics and infrastructure backbone, with railways at its core.”
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