Odisha to have 10percent stake in rail link for port-led development

Odisha has confirmed 10 per cent equity participation in the Special Purpose Vehicle (SPV) of Indian Port Rail Corporation Ltd (IPRCL) that will be formed for development of a heavy haul rail corridor from Salegaon to Paradip port. The corridor will strengthen supply side connects from mine to port and will boost coastal movement of 140 million tonne per annum of coal, as envisioned in Sagarmala National Perspective Plan. Including the third and fourth line development between Budhapank and Salegaon by the Railways, the project entails an investment of Rs.4,500 crore.