COAL & MINES

CIL-led SPVs to invest Rs 8,000 crore to develop two rail links

Coal India (CIL) has formed two special purpose vehicles (SPVs) to develop two railway links for evacuating increased quantity of coal from high-yielding open-cast mines of its Chhattisgarh-based subsidiary South Eastern Coalfields (SECL).

The two SPVs, Chhattisgarh East-West Railway (CEWRL) and Chhattisgarh East Rail (CERL), will construct the 135-km east-west rail corridor and the 136-km east rail corridor at an estimated cost of Rs 4,970 crore and Rs 3,055 crore, respectively.

CERL has already been made operational.

The joint venture partners in CEWRL include SECL and the coal ministry with a 64% stake and Ircon with a 26% stake. Chhattisgarh State Industrial Development has also chipped in with a 10% stake. CERL also has the same partners with the same pattern of holding.

In a statement, CIL said two large value tenders for the construction of the 135-km rail line by CEWRL from Gevra Road to Pendra Road has recently been floated.

Source
financial express
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