SECL to develop rail line in C’garh to move coal
A common loan agreement was signed between the Chhattisgarh East West Rail Ltd (CEWRL), a Rail joint venture company of South Eastern Coalfields Ltd. (SECL), and a consortium of banks led by the State Bank of India for a loan of ₹ 3,976 crores to develop a 135 KM double rail line to move coal from SECL mines.
The loan will be utilized by CEWRL for the rail connectivity from Gevra Road to Pendra Road (both existing stations) to transfer coal from Gevra, Dipka and Kusmunda, the mega mines of South Eastern Coalfields Ltd.
The project has been designed with a Debt to Equity ratio of 80:20 wherein the promoters are required to contribute about ₹ 994 crores and the balance amount of ₹ 3,976 crores is arranged from banks as rupee term loan.
