Paradip Port Trust (PPT) will have a 51 per cent stake in the heavy haul rail corridor proposed by Indian Port Rail Corporation Ltd (IPRCL). The corridor would connect Salegaon (Maharashtra) with Paradip port.
The project, which is to be developed on a joint venture basis, is estimated to cost Rs 5,849.2 crore. While the debt component is pegged at Rs 4,209.7 crore, the residual Rs 1,639.5 crore will come in as equity contribution from the promoters. Apart from PPT, Mahanadi Coalfields Ltd (MCL), the Odisha government and a Railway PSU would have 13 per cent, 10 per cent and 26 per cent equity respectively. Either Rites Ltd or Rail Vikash Nigam Ltd (RVNL) is proposed to be the equity partner.