Bhubaneswar: Navaratna PSU Container Corporation of India Ltd (Concor) will participate in Angul-Sukinda railway line (ASRL) project in Odisha, giving a boost to state’s rail infrastructure and development.
Concor has become a stake-holder in the ASRL project by making 26 per cent equity shares investment, a company release said here.
ASRL is billed as one of the most important and infrastructurally crucial railway projects of Odisha.
Anil Kumar Gupta, Chairman and Managing Director of Concor, recently handed over the consent letter for releasing Rs 100 crore of their total equity amount of Rs 156 crore to Dilip Kumar Samantaray, managing director of ASRL project.
“Our decision to participate in this new railway line is primarily to promote the development of rail infrastructure and logistics in the state of Odisha,” Gupta said.
ASRL project authorities said that the work will start in full swing after the agricultural cultivation season period is over and is expected to be completed by June 2018.
Angul-Sukinda railway line is being constructed under public private partnership (PPP) model for providing a vital alternative rail link to Angul-based steel plants with Keonjhar-Bansapani iron-ore belt and Talcher coal field to Kalinga Nagar industrial belt.
Besides CONCOR, Rail Vikas Nigam Ltd, Odisha government, Odisha Mining Corporation, JSPL and IDCO are the other stake holders of the joint venture, the release said.
Concor is also developing two multi-modal logistic parks (MMLPs) at Parjang and Duburi stations of the new railway line for expanding container traffic in the state.
The Odisha government has already assured assistance in the land acquisition process for these two depots of Concor.