IRFC & ASRL SIGN LOAN AGREEMENT

On dt. 11.08.2025, Sri Dilip Kumar Samantray, Managing Director of Angul Sukinda Railway Ltd. and Deepa Kotnis, Executive Director of Indian Railway Finance Corporation (IRFC) signed a Loan Agreement for Rs 2473 Crores for refinancing the newly constructed rail line between Angul (Budhapank) and Sukinda (Baghuapala). Angul Sukinda Railway Ltd. a Special Purpose Vehicle (SPV) has been formed by Rail Vikas Nigam Limited (RVNL), Container Corporation of India Limited (CONCOR), Odisha Government and a private company to implement the 113.4 km Angul Sukinda Railway Project. The project is an important freight corridor that facilitates the movement of coal, iron ore, steel and other raw materials between two industrial and mining regions of the state and has helped in reducing road congestion. For construction of this new line ASRL had earlier taken the loan from a consortium of five nationalized Banks, with Canara Bank as the lead bank. However, since the line is now commissioned and IRFC has offered better rate on the loan, ASRL has opted to avail this loan from Indian Railway Financial Corporation.
​It is the first of this case, where IRFC is extending loan for a railway line construction work. Sri Manoj Kumar Dubey, Chairman and Managing Director of IRFC has played a significant role in extending this loan facility to ASRL. In the loan agreement signing function at IRFC Headquarters, New Delhi, Sri S.K. Goel, CFO of IRFC, Sri Prafulla Raut, CFO, ASRL and Srimanta Baboo, Company Secretary, ASRL were present.