Companies

SAIL signs pact with IRCON for rail infrastructure projects

Our Bureau New Delhi | Updated on November 12, 2017 Published on January 17, 2011




Steel Authority of India Ltd (SAIL) has signed a memorandum of understanding (MoU) with IRCON International Ltd for jointly working on rail infrastructure projects both in India and abroad.

IRCON, an enterprise under the Ministry of Railways with expertise in developing surface transportation infrastructure, has handled around 300 projects in India and abroad while SAIL is the major producer and supplier of railway materials.

“The MoU is the first step by SAIL and IRCON towards joining hands for efficient execution of partnership projects of the Indian Railways, as well as participating in rail infrastructure projects in developing countries where there is no infrastructure for evacuation of raw materials,” a SAIL statement said.

The MoU was signed by Directors of both SAIL and IRCON in the presence of SAIL Chairman, Mr. C.S. Verma, the IRCON Managing Director, Mr. Mohan Tiwari, and senior executives of both companies.

Speaking on the occasion, Mr Verma welcomed the partnership and assured all cooperation. Mr Tiwari said that he looked forward to the synergies envisaged between the two companies in the MoU translating into a joint venture or a special purpose vehicle in the near future.

He added that IRCON has already identified a number of projects in which SAIL and IRCON can participate jointly.

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Published on January 17, 2011
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