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Our Bureau

New Delhi , Sept. 13

RailTel Corporation of India (RCIL) has tied up a loan of Rs 200 crore from the Indian Railway Finance Corporation (IRFC).

Of the total loan amount, RCIL has already drawn up Rs 150 crore for speedy implementation of its ongoing projects.

In addition, the Railways has contributed Rs 15 crore as seed capital while Rs 250 crore will be added as equity in the form of assets transferred by the Railways, says an official statement. Out of this, assets valued at Rs 219.40 crore have so far been transferred to RCIL.

RCIL was formed in September 2000 to build optical fibre cable-based nationwide telecom and multi-media network with the primary objectives of modernising train control, operational and safety systems and networks, as also to market the surplus capacity to earn revenues.

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