Kolkata: Chhattisgarh East West Rail Ltd (CEWRL) has secured a Rs 3976 crore loan from a State Bank of India (SBI) led consortium. It will finance a 135-kilometer double railway track project proposed to increase coal evacuation from Coal India subsidiary, South Eastern Coalfields’ large mines.
SBI’s exposure to this project is Rs 1800 crore rest being from Punjab National BankNSE 0.66 %, Union Bank of India, Canara BankNSE 0.12 %, Indian Bank and Bank of Baroda.
CEWRL is a joint venture between railways & South Eastern Coalfields (SECL) and the project proposes to connect Gevra Road with Pendra Road, both in Chhattisgarh. Once complete, it will enable SECL’s mega projects like Gevra, Dipka and Kusmunda evacuate almost 65 million tonnes of additional coal annually over railways as these mines would be connected to the proposed track.
