Concor to invest Rs. 156 crore for 26% stake in Angul-Sukinda railway line.

Container Corporation of India (Concor) has decided to invest Rs. 156 crore for 26 per cent equity to participate in the Angul-Sukinda railway line project in Odisha. Angul-Sukinda new rail line is being constructed under public-private partnership model for providing an alternative rail link to the Angul-based steel plants with the Keonjhar-Bansapani iron ore belt and Talcher Coalfields to Kalinga Nagar industrial belt. This new line is expected to be completed by June 2018, a company release said.

Besides Concor, Rail Vikas Nigam Ltd., Odisha Government, Odisha Mining Corporation, JSPL and IDCO are the other stake holders of Angul Sukinda Rail Line (ASRL), a joint venture company.

Anil Kumar Gupta, CMD, Concor, handed over the consent letter for releasing Rs. 100 crore to Dilip Kumar Samantaray, Managing Director, ASRL.

Concor is also developing two multimodal logistic parks at Parjang and Duburi Stations of this new rail line for expanding container traffic in the state.

Odisha has also assured all possible assistance in the land acquisition process for these two depots.


HBL