Indian Railway Finance Corporation (IRFC) has executed a refinancing facility of INR 2,539 crore for Angul Sukinda Railway Limited (ASRL), an SPV within the railway ecosystem. The loan document was signed today at IRFC's New Delhi office between Mr. Dilip Kumar Samantray, Managing Director, ASRL, and Ms. Deepa Kotnis, Executive Director (Finance), IRFC, in the presence of senior officials from both organisations.
Established in 1986 as the dedicated financing arm of the Ministry of Railways, IRFC has played a pivotal role in strengthening India's rail infrastructure by mobilising resources at competitive rates. Recently accorded 'Navratna' status, the company is expanding its role as a diversified infrastructure financier within the railway ecosystem, with a mandate covering projects that have forward and backward linkages with railways, such as power generation and transmission, mining, fuel, coal, warehousing, telecom, hotels and catering, metro rail, freight corridors, ports, multimodal logistics etc. IRFC continues to maintain a strong asset quality track record with a zero-NPA portfolio.
ASRL, promoted by Rail Vikas Nigam Limited (RVNL), Container Corporation of India Ltd. (CONCOR), Govt. of Odisha and private partners, operates a crucial 113.4 km broad gauge railway line in Odisha that connects mineral-rich belts to major coal, steel, power, and port facilities. The line serves as a strategic freight corridor, enabling faster and more efficient transportation of coal, iron ore, steel, and other key commodities, thereby reducing congestion on existing routes and improving supply chain efficiency for industries in the region.
The refinancing package from IRFC provides customised financial support through more competitive financing terms, a repayment structure aligned with the project's actual revenue cycles. These measures not only improve ASRL's capacity to meet its financial commitments but also free up resources for expansion, capacity enhancement, and operational improvements. This intervention is expected to make the project further viable in the long run, ensuring it continues to contribute significantly to regional economic growth and the country's rail freight capacity.
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 backward 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."
This refinancing is a part of IRFC's broader strategy to strengthen critical railway-linked infrastructure and its associated entities, ensuring that they remain financially robust and wellpositioned to meet the demands of India's growing logistics sector, with railways at its centre.
Shares of Indian Railway Finance Corporation Limited was last trading in BSE at Rs. 126.80 as compared to the previous close of Rs. 125.25. The total number of shares traded during the day was 675621 in over 5142 trades.
The stock hit an intraday high of Rs. 127.45 and intraday low of 124.60. The net turnover during the day was Rs. 85389001.00. |
